By Glenn Johnson

Nokia Corp. on Monday said it plans to transform its Ottawa campus into a research and development facility focusing on information and communications technology and cyber security.

The telecommunications company said it will spend more than 340 million Canadian dollars ($245 million) on labs and equipment, labor and operating costs between 2023 and 2027 to transform its existing site. The expansion is expected to create more than 340 new jobs, the company said.

Nokia said construction at its 26-acre campus at the Kanata North Business Park in Ottawa is expected to begin next year, with a goal of opening the new facility in 2026.

The government of Canada is finalizing plans to contribute up to C$40 million to the project, while the Ontario government will provide C$30 million. Ottawa is providing C$2 million for control system upgrades.

The contributions will support the company's long-term capability in cyber security, research and development and next-generation technology, including 6G, Nokia said.

Write to Glenn Johnson at glenn.johnson@wsj.com

(END) Dow Jones Newswires

October 17, 2022 11:19 ET (15:19 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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