Foxconn indicators ₹1600 cr parts plant cope with Tamil Nadu state govt

Reuters | | Posted by Lingamgunta Nirmitha Rao

Taiwan’s Foxconn has signed an settlement with India‘s Tamil Nadu to speculate 16 billion rupees ($194 million) in a brand new digital parts manufacturing facility that can create 6,000 jobs, the federal government of the southern state mentioned on Monday.

Foxconn Chairman Younger Liu (Reuters)

The power shall be for Foxconn Industrial Web (FII), a Foxconn unit, with the proposed campus developing on the Kancheepuram district close to the state capital of Chennai, a state authorities supply mentioned on situation of anonymity as the main points usually are not but public.

The power shall be separate from the present sprawling campus close to Chennai the place Foxconn assembles Apple’s iPhones and employs greater than 35,000 individuals, the supply mentioned.

“It is a main achievement for the state,” Tamil Nadu Minister for Industries TRB Rajaa mentioned in a press release, after Foxconn Chairman Younger Liu and different representatives met with the state officers together with its chief minister.

Foxconn didn’t reply to a request for remark.

Liu has been in India to attend the federal authorities’s semiconductor convention that ended on Sunday.

Reuters reported final week that the Foxconn subsidiary was in talks with Tamil Nadu concerning the funding, with the corporate aiming for the plant’s completion in 2024.

Foxconn’s FII makes digital units, cloud service tools and industrial robots. It was not instantly clear if the brand new India plant would make parts for iPhones or for different corporations, or each.

Foxconn plans to quadruple the workforce at its iPhone manufacturing unit in Tamil Nadu by late 2024 in a bid to unfold its bets past China, Reuters reported final 12 months.

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