Sources say Foxconn subsidiary has decided to build a plant in India: an investment of 16 billion rupees will create 6000 jobs
CTOnews.com, July 31, according to Reuters, a senior source familiar with the Indian government of Tamil Nadu revealed that Foxconn subsidiary Industrial Fulian will sign an agreement with the state government today to build a new electronic components factory, which will create 6000 new jobs.
A source on ▲ 's official website added that USI plans to invest 16 billion Indian rupees (CTOnews.com Note: currently about 1.392 billion yuan) to build a park in the Kancheepuram district near Chennai, the capital of Tamil Nadu. The plant will be separated from Foxconn's sprawling campus near Chennai, where Foxconn assembles its iPhone in India and employs more than 35000 people.
Neither Foxconn nor the Tamil Nadu government immediately responded to requests for comment, but the state government said on LinkedIn today that it expected to make a "major announcement" today and that the announcement would mean that Tamil Nadu would maintain its "status as an Indian electronics power".
CTOnews.com had previously reported that USI was in talks with Tamil Nadu on the investment, which aims to complete the plant by 2024. USI is mainly engaged in communications, mobile networks, cloud computing equipment, precision tools and industrial robots.
