iPhone maker Foxconn proposes to set up Rs 8,800 crore manufacturing plant in Karnataka | India News – Times of India
Karnataka’s large and medium industries minister M B Patil said on Monday that the major iPhone assembler for Apple has plans to invest Rs 8,800 crore for the plant which would create 14,000 jobs and be built over an area spanning 100 acres.
Chief minister Siddaramaiah chaired a high-level meeting with the delegates of Foxconn Industrial Internet (Fii), headed by its CEO, Brand Cheng, in this regard, he said.
As per the proposal, Fii, a subsidiary of Foxconn (formally known as Hon Hai Precision Industry Co. Ltd), will engage in manufacturing screens, and outer coverings apart from making mechanical components needed for phones.
“This would operate as a supplementary plant to the ‘end assembly’ unit at Devanahalli (ITIR)”, the minister said in a statement.
“The state is ready to provide full support, offering land required to set up the manufacturing unit, in the 100 acres of land available in the Japanese Industrial Park near (the district headquarters town of) Tumakuru”, Patil said in a tweet.
Patil said on Thursday the process of handing over land to Apple Inc supplier and Taiwanese electronics manufacturing giant Foxconn, for its mobile devices manufacturing unit at Devanahalli ITIR is in “final stages.”
“Foxconn is coming up in about 300 acres. The process of handing over land is in final stages, there were some issues, so I have personally held meetings four times in this regard, as we did not want to lose the project. Foxconn, which manufactures Apple phones, is very prestigious for us,” the Minister had said.
“Foxconn will invest $1 billion, which is Rs 8,400 crore, and will create 50,000 employment in the first phase (at the Devanahalli ITIR),” Patil had said.
The announcement comes just days after Foxconn decided to pull out of a semiconductor joint venture with Indian conglomerate Vedanta.
(With inputs from agencies)
