Apple supplier Foxconn will invest $600 million in two projects in Karnataka for chip-equipment manufacturing and casing components for iPhones, the southern Indian state said Wednesday.
The Taiwanese company signed a letter of intent with the Karnataka government on Wednesday. Foxconn said it will invest about $350 million in setting up a plant in the state for manufacturing smartphone components and about $250 million on a project for manufacturing semiconductor manufacturing equipment.
“The industrial and investment policies of the state government are conducive to nurturing an ecosystem favouring the growth of industries. The talks held with the company chairman were fruitful,” said Karnataka Minister of Infrastructure Development MB Patil.
Foxconn said the projects will create 13,000 jobs in the state. The firm has partnered with Applied Materials on the semiconductor manufacturing project.
Wednesday’s announcement follows Foxconn signing a deal with the state of Tamil Nadu on Monday to invest about $194 million in a new electronic components manufacturing facility.
More to folliow.
Source link
