A Foxconn subsidiary is in talks with India's Tamil Nadu
state to invest up to $200 million to build a new plant for electronic
components in the southern region, two sources with direct knowledge told
Reuters on Wednesday.
Brand Cheng, CEO of Foxconn Industrial Internet (FII), and
other company representatives last week met Tamil Nadu officials including its
chief minister to discuss investments in the state, the government said in a
statement after the meeting, without elaborating.
FII, which makes communication, mobile network and cloud
computing equipment, has shared a plan with state officials to initially invest
$180 million to $200 million in the facility, said one of the sources.
Foxconn, the world's largest contract electronics
manufacturer, and a spokesperson for Tamil Nadu's industries department
declined to comment.
Foxconn already has a sprawling campus near Chennai city in
Tamil Nadu where it assembles Apple's iPhones.
The sources, who declined to be named as the talks are
private, did not elaborate on the plan or say if parts made at the proposed
facility would be used in iPhones or another company's products.
Foxconn aims to complete the plant by 2024, with further
investments expected afterward, the first source said.
A final decision has not been made, both sources said.
Foxconn is also in talks with western Gujarat state as it
eyes entry into India's semiconductor sector. Its chairman Young Liu is
expected to speak at an annual semiconductor event hosted by the government
this week.
Last week, Karnataka state government in south India said it
held talks with FII, which had committed to invest $1.07 billion for a new plant. © Reuters
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