https://sputniknews.in/20230731/foxconn-signs-194-mln-manufacturing-component-deal-with-tamil-nadu-3299474.html
Foxconn Signs $194 Mln Manufacturing Component Deal With Tamil Nadu
Foxconn Signs $194 Mln Manufacturing Component Deal With Tamil Nadu
Sputnik India
Foxconn chairman Young Liu met Tamil Nadu State Chief MK Stalin on Monday and signed a Memorandum of Understanding (MoU) to establish a mobile component plant with an investment of INR 1,600 crore ($194 million) near Kanchipuram city.
2023-07-31T18:29+0530
2023-07-31T18:29+0530
2023-07-31T18:29+0530
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Foxconn chairman Young Liu met Tamil Nadu state chief MK Stalin on Monday and signed a memorandum of understanding (MoU) to establish a mobile component plant with an investment of INR 16 billion ($194 million) near Kanchipuram city.As per reports, the plant will create 6,000 jobs.Foxconn Industrial Internet (Fii) makes components for iPhones, cloud service equipment, electronics equipment, industrial robots, etc. Tamil Nadu's minister of industries and investment promotion, TRB Rajaa, said, "This is a major achievement for the state".The state ranks No.1 in export of electronic goods, with exports in 2022-23 crossing $5.3 billion. The state government has set a target of turning the state into a trillion-dollar economy by 2030.As per media reports, Fii, is also in talks with the Tamil Nadu government to invest around $200 million to set up an electronic components unit in the state.
https://sputniknews.in/20230711/after-vedanta-pullout-foxconn-to-apply-for-indian-chipmaking-incentives-2939298.html
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foxconn chairman young liu, mk stalin, mobile component plant, manufacturing plant, kanchipuram city, ev and electronic components, foxconn makes components for iphones, cloud service equipment, electronics equipment, industrial robots, hon hai technology group, trb rajaa, said, tamil nadu investment
Foxconn Signs $194 Mln Manufacturing Component Deal With Tamil Nadu
Deexa Khanduri
Sputnik correspondent
iPhone manufacturer Foxconn already has a plant in Tamil Nadu’s Chennai that employs nearly 35,000 individuals.
Foxconn chairman
Young Liu met Tamil Nadu state chief MK Stalin on Monday and signed a memorandum of understanding (MoU) to establish a
mobile component plant with an investment of INR 16 billion ($194 million) near Kanchipuram city.
In a tweet, Tamil Nadu state chief MK Stalin confirmed the inked deal: “Was delighted to meet the Foxconn Group Chairman Mr.Young Liu and his team. Various investment opportunities in Tamil Nadu were discussed. Investment commitment to establish a mobile component manufacturing facility in Kanchipuram district for INR 1600 crore with potential employment for 6000 persons was signed in my presence. We also discussed further investments in EV [Electronic Vehicle] and electronic components. Another milestone in our ambition to make TN [Tamil Nadu] the new emerging electronics manufacturing hub of Asia!”
As per reports, the plant will create 6,000 jobs.
Foxconn Industrial Internet (Fii) makes components for iPhones, cloud service equipment, electronics equipment, industrial robots, etc.
The company, also known as Hon Hai Technology Group, is the world's largest contract maker of electronics, producing 70 percent of all iPhone shipments worldwide.
Tamil Nadu's minister of industries and investment promotion, TRB Rajaa, said, "This is a major achievement for the state".
The state ranks No.1 in export of electronic goods, with exports in 2022-23 crossing $5.3 billion.
The state government has
set a target of turning the state into a trillion-dollar economy by 2030.
As per media reports, Fii, is also in talks with the Tamil Nadu government to invest around $200 million to set up an electronic components unit in the state.
