Foxconn Subsidiary Reportedly Negotiating To Establish $200 Million Components Facility In Tamil Nadu, India
According to two sources familiar with the matter, a subsidiary of Foxconn is currently engaged in discussions with the Tamil Nadu state in India to potentially invest $200 million in constructing a new facility for electronic components in the southern region.
Foxconn Industrial Internet (FII) CEO Brand Cheng and other company representatives met Tamil Nadu officials, including its chief minister, last week to discuss investment in the state, the government said in a statement after the meeting, but did not elaborate.
FII, which makes telecom, mobile network and cloud computing equipment, has shared with government officials a plan to initially invest $180 million to $200 million in the facility, one of the sources said.
Foxconn, the world’s largest contract electronics maker, and a spokesman for Tamil Nadu’s industries department declined to comment.
Foxconn already has a sprawling campus near the city of Chennai in Tamil Nadu where it assembles Apple’s iPhones.
The sources, who declined to be named because the talks are private, did not elaborate on the plan or say whether parts made at the proposed facility would be used in iPhones or another company’s products.
Foxconn plans to complete the factory by 2024, with additional investment expected later, the first source said.
According to both sources, no final decision has been made.
Foxconn is also in talks with the western state of Gujarat as it plans to enter 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, the government of the southern Indian state of Karnataka announced it was in talks with an FII that had committed to invest $1.07 billion in the new plant.
