HELSINKI -- Aspocomp Group, the second largest PCB company in Europe, plans build a printed circuit board plant in Chennai, India, the company said today.

Aspocomp will invest 60 million euros in the the plant, India's first HDI production facility, Aspocomp said. 
The plan will be operational during the second half of 2007.

Aspocomp said in a statement that the expected needs of its current customers drove the decision to add capacity.

CEO Maiija-Liisa Friman said, "The expansion into India is a logical step in the implementation of our strategy that has already started in Thailand and China. India is an attractive and rapidly growing market for printed circuit boards. This project is important as it significantly reinforces our ability to service our global customers. The project combines high technology products, production flexibility, a good delivery capacity, and a competitive cost level."

Final decisions over the investment should be coming in the next few months, the company said.