Foxconn proposes to set up Rs 8,800 crore manufacturing plant in Karnataka
BENGALURU:
Foxconn, a major iPhone assembler for Apple, has proposed to set up a Rs 8,800 crore supplementary plant to that of the unit at Devanahalli Information Technology Investment Region ITIR in Karnataka, the states Large and Medium Industries Minister M B Patil said on Monday.The 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, has a plan to invest Rs 8,800 Crore.
Foxconn, a major iPhone assembler for Apple, has proposed to set up a Rs 8,800 crore supplementary plant to that of the unit at Devanahalli Information Technology Investment Region (ITIR) in Karnataka, the state’s Large and Medium Industries Minister M B Patil said on Monday.
The 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.
Karnataka Welcomes #Foxconn Industrial Internet (#FII) Company's Mega Investment, Boosting Tech Sector and Job Opportunities!
— M B Patil (@MBPatil) July 17, 2023
✅ Rs. 8,800 Cr of investement
✅ 14,000+ job opportunities
Participated in a productive discussion with #FII CEO Sri #BrandCheng & his Team, held… pic.twitter.com/PC4DCRJyMR
As per the proposal, Fii, a subsidiary of Foxconn (formally known as Hon Hai Precision Industry Co. Ltd), has a plan to invest Rs 8,800 Crore. ”This would create 14,000 jobs and the land required for the project is about 100 acres,” Patil said. The delegates of the Fii would be taken to Tumakuru to examine the available land at Japan Industrial Township near the district headquarters town.
The Information Technology Minister Priyank Kharge and Chief Secretary Vandita Sharma were also present in the meeting.
”Fii 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 USD one billion, which is Rs 8,400 crore, and will create 50,000 employment in the first phase (at the Devanahalli ITIR),” Patil had said.PTI
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