Foxconn Unit to Signal $194 Million Parts Plant Deal With India’s Tamil Nadu-Supply
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By Munsif Vengattil and Praveen Paramasivam
CHENNAI (Reuters) – A Foxconn unit will on Monday signal an settlement with India’s Tamil Nadu state to construct a brand new facility for digital elements that can create 6,000 new jobs, a senior state authorities supply with direct information stated.
The subsidiary, Foxconn Industrial Web (FII), plans to speculate 16 billion Indian rupees ($194.45 million) to construct a campus in Kancheepuram district, close to the state’s capital of Chennai, added the supply, who was not authorised to talk publicly concerning the matter.
The ability will likely be separate from the present sprawling campus close to Chennai the place Foxconn assembles Apple’s iPhones and employs greater than 35,000 individuals, the supply stated.
Foxconn didn’t instantly reply to a request for remark. The state authorities, which didn’t instantly reply to a request for remark, stated on LinkedIn on Monday morning a “huge announcement” was anticipated in the course of the day that will imply Tamil Nadu would retain its “high place as India’s Electronics Powerhouse.”
($1 = 82.2825 Indian rupees)
(Reporting by Munsif Vengattil in Bengaluru and Praveen Paramasivam in Chennai; Extra reporting by Yi-Mou Lee; Modifying by Aditya Kalra and Jamie Freed)
Copyright 2023 Thomson Reuters.
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