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Foxconn to build new electronics facility in Tamil Nadu, signs deal with govt
Industry News- Aug 04,23
A substantial portion of this funding, totalling $350 million, will be channelled into the establishment of an iPhone component manufacturing unit.
The government of the southern Indian state of Karnataka announced that Taiwan's Foxconn is slated to invest $600 million in a dual initiative. This investment encompasses two distinct projects: one focused on the manufacturing of chip equipment and another involving the production of casing components for iPhones.
A substantial portion of this funding, totalling $350 million, will be channelled into the establishment of an iPhone component manufacturing unit. This initiative is anticipated to create around 12,000 employment opportunities. In parallel, Foxconn will engage in collaboration with Applied Materials, in a project valued at $250 million. This venture aims to produce cutting-edge chip-making tools. Reuters initially reported on these prospective investment endeavours on the same day.
These strategic investment choices come subsequent to a meeting involving Foxconn Chairman Young Liu, Karnataka's Minister of IT, Priyank Kharge, and Industries Minister MB Patil.
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