Corning Inc invests Rs 10 bn in Tamil Nadu for Apple supplier manufacturing facility

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Corning Inc invests Rs 10 bn in Tamil Nadu for Apple supplier manufacturing facility

Corning Inc invests Rs 10 bn in Tamil Nadu for Apple supplier manufacturing facility

Industry News
Dec 15,23

The new facility will be situated in Pillaipakkam, near Sriperumbudur, on a 25-acre plot, with the option for expansion as needed.

Corning Inc invests Rs 10 bn in Tamil Nadu for Apple supplier manufacturing facility

Corning Inc., a prominent Apple supplier and the American Gorilla Glass manufacturer, is set to invest Rs 10 billion in establishing a manufacturing facility in Tamil Nadu, according to multiple sources familiar with the matter.

The new facility will be situated in Pillaipakkam, near Sriperumbudur, on a 25-acre plot, with the option for expansion as needed. Approximately 300 people are expected to be employed at the facility, marking the formal entry of another key Apple supplier into India. This move further strengthens the growing ecosystem of Apple and electronic component manufacturers in the country.

Earlier, in September, the Telangana government had announced that Corning Inc. would invest in Telangana. However, sources indicate that the decision to choose Tamil Nadu over Telangana was influenced by the robust electronics ecosystem in the state and its proximity to other Apple suppliers.

Negotiations were ongoing for a while, and the deal was finalised and sealed last week. The Memorandum of Understanding (MoU) is expected to be signed during the Global Investor Meet (GIM) in January.

Tamil Nadu Industries Minister TRB Rajaa commented, "While I choose not to delve into the specifics of potential investment commitments which may be under consideration, I can affirm that Tamil Nadu is diligently crafting an outstanding electronics ecosystem of international standards."

Corning Inc., headquartered in New York, is a Fortune 500 materials science company known for inventing Gorilla Glass—a strengthened glass widely used in devices like mobile phones, tablets, and laptops. The company, a monopoly in Gorilla Glass, will be investing around Rs 10 billion in the Pillaipakkam facility.

Corning will collaborate with its Indian partner, Optiemus Infracom, for the establishment of this facility. Although no specific timeline has been committed to, the construction is anticipated to take approximately a year to complete.

The decision to choose Tamil Nadu is attributed to the state's robust electronics ecosystem and its proximity to other key Apple suppliers. Tamil Nadu already hosts major Apple contract manufacturers such as Foxconn, Pegatron, and Tata Electronics.

Source: Indiatimes