About 10 days after a Karnataka minister announced that that Apple supplier Foxconn, has proposed to set up a Rs 8,800 crore supplementary plant in the state, a report has claimed that a subsidiary of the Taiwanese company is in talks with Tamil Nadu government to invest up to $200 million (roughly Rs. 1,638 crore) to build a new plant.
Citing two sources with direct knowledge, news agency Reuters reported that this particular plant will be set up to manufacture electronic components. One of the sources claimed that the Foxconn Industrial Internet (FII) shared a plan with state officials to initially invest $180 million (roughly Rs. 1,475 crore) to $200 million in the facility.
Brand Cheng, CEO of FII – which makes communication, mobile network and cloud computing equipment – and other company representatives last week met Tamil Nadu officials to discuss investments in the state.
The group also included the chief minister, the state government said, without elaborating much about the discussions that happened during the meeting. Foxconn already has a campus near Chennai in the state where it assembles Apple’s iPhones.
The sources, however, did not elaborate whether the parts that will be manufactured in the proposed facility will be used in iPhones or another company’s products. Foxconn aims to complete the plant by 2024, with further investments expected afterward, the publication reported.
Foxconn in other states
Foxconn is reportedly also in talks with Gujarat to establish a semiconductor plant. The development came a few days after the Taiwanese company ended its $19.5 billion joint-venture plan with Vedanta.
“We are in touch with multiple prospective investors, including Foxconn … Gujarat is uniquely positioned to attract top chipmakers,” said Vijay Nehra, secretary of the science and technology department in Gujarat.
Last week, the Karnataka government announced that its officials held talks with FII, which committed to invest about Rs 8,800 crore for a new plant. The plant is expected to create 14,000 jobs and the land required for the project is about 100 acres.
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About 10 days after a Karnataka minister announced that that Apple supplier Foxconn, has proposed to set up a Rs 8,800 crore supplementary plant in the state, a report has claimed that a subsidiary of the Taiwanese company is in talks with Tamil Nadu government to invest up to $200 million (roughly Rs. 1,638 crore) to build a new plant.
Citing two sources with direct knowledge, news agency Reuters reported that this particular plant will be set up to manufacture electronic components. One of the sources claimed that the Foxconn Industrial Internet (FII) shared a plan with state officials to initially invest $180 million (roughly Rs. 1,475 crore) to $200 million in the facility.
Brand Cheng, CEO of FII – which makes communication, mobile network and cloud computing equipment – and other company representatives last week met Tamil Nadu officials to discuss investments in the state.
The group also included the chief minister, the state government said, without elaborating much about the discussions that happened during the meeting. Foxconn already has a campus near Chennai in the state where it assembles Apple’s iPhones.
The sources, however, did not elaborate whether the parts that will be manufactured in the proposed facility will be used in iPhones or another company’s products. Foxconn aims to complete the plant by 2024, with further investments expected afterward, the publication reported.
Foxconn in other states
Foxconn is reportedly also in talks with Gujarat to establish a semiconductor plant. The development came a few days after the Taiwanese company ended its $19.5 billion joint-venture plan with Vedanta.
“We are in touch with multiple prospective investors, including Foxconn … Gujarat is uniquely positioned to attract top chipmakers,” said Vijay Nehra, secretary of the science and technology department in Gujarat.
Last week, the Karnataka government announced that its officials held talks with FII, which committed to invest about Rs 8,800 crore for a new plant. The plant is expected to create 14,000 jobs and the land required for the project is about 100 acres.
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