Foxconn to set up Rs 1,600 crores electronic component plant in Tamil Nadu – Times of India

Foxconn to set up Rs 1,600 crores electronic component plant in Tamil Nadu - Times of India

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Foxconn has announced an agreement with the government of Tamil Nadu in India to invest Rs 1,600 crores in a new electronic components manufacturing facility situated in the state.

This new facility, which will be operated by Foxconn Industrial Internet, is expected to create 6,000 jobs and will be located near the state capital Chennai in the Kancheepuram district.
According to a source, Foxconn will be building a new facility in Tamil Nadu, separate from its current campus in Chennai, where over 35,000 people assemble Apple’s iPhones. A letter of intent (LoI) was signed for a new facility to be established near Foxconn’s current unit in Sriperumbudur, Kancheepuram district.

Tamil Nadu Minister for Industries T R B Rajaa expressed his gratitude in a statement after Foxconn Chairman Young Liu and other representatives met with state officials, including the chief minister.

“Foxconn’s repeated investments and expansion plans in Tamil Nadu are a testament to the state being the top choice for manufacturing in India for major companies across the world. This is a major achievement for the state,” the minister said.
“Manufacturers who have seen immense success in Tamil Nadu over the past many years know that by investing more in the state they will only gain more. With this proposed investment, and many more to come, Tamil Nadu is poised to not only remain the top electronics exporter in the country, but also significantly increase its electronics exports in the coming years. This will play a critical role in attaining MK Stalin’s ambition of a $1 trillion economy in Tamil Nadu,” he added.
Foxconn’s FII unit produces electronic devices, cloud service equipment, and industrial robots. It remains uncertain whether the newly established plant in India will manufacture components for iPhones, other companies, or both.



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