- Saturday, January 11, 2025
Foxconn already has a big campus near Chennai, the capital of Tamil Nadu, where it assembles Apple’s iPhones.
By: Shubham Ghosh
A SUBSIDIARY of Taiwanese electronics major Foxconn is in talks with the southern Indian state of Tamil Nadu to invest up to $200 million to set up a new plant for electronic components in the southern region of the country, Reuters reported citing two informed sources on Wednesday (26).
Brand Cheng, chief executive officer of Foxconn Industrial Internet (FII), met officials of Tamil Nadu, including its chief minister MK Stalin, along with other representatives of the company last week to discuss investments in the state, the Tamil Nadu government said later in a statement but did not elaborate.
FII, which makes equipment related to communication, mobile network and cloud computing, has shared a plan with officials of Tamil Nadu to initially invest between $180 and $200 million in the facility, one of the sources told the news outlet.
Foxconn already has a big campus near Chennai, the capital of Tamil Nadu, where it assembles Apple’s iPhones.
The sources, which spoke on the condition of anonymity, did not share details about the plan or reveal whether parts manufactured at the proposed facility would be used in iPhones or products of another company, Reuters added.
One of the sources added that the Taiwanese company has plans to complete the plant by next year with more investments expected later. No final decision has been taken yet, the sources added.
Foxconn, which recently withdrew from a joint venture with Vedanta Ltd for producing semiconductors in India, is also in talks with Gujarat, home state of prime minister Narendra Modi, as it still has its eyes set on India’s semiconductor sector.
Young Liu, its chairman, is expected to speak at the annual semiconductor event hosted by the government in Gandhinagar from Friday (28).
Last week, Foxconn also proposed a second manufacturing unit in Tumakuru in Karnataka, another southern state and neighbour to Tamil Nadu, the state’s large and medium industries minister MB Patil said. It’s the company’s second manufacturing unit in the state, the first being Devenahalli near state capital Bengaluru, which is also India’s information technology hub.
