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Foxconn parent company Hon Hai plans to invest an additional 139.11 billion rupees in Karnataka, India.

2024-04-22 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >

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Shulou(Shulou.com)12/24 Report--

CTOnews.com December 12 news, the government of Karnataka, India, said in a statement today that Hon Hai plans to invest an additional 139.11 billion rupees (CTOnews.com Note: currently about 11.977 billion yuan) in the state.

According to reports, the additional investment will be used to open a new manufacturing plant in Devanahalli, where Hon Hai has acquired 300 acres of land, which the industry believes is likely to be used to assemble Apple iPhone phones.

▲ Foxconn Bharat FIH factory, Picture Source: in November last year, the iPhone manufacturer announced that it would expand its business in India and will invest 50 billion New Taiwan dollars (currently about 11.4 billion yuan).

Earlier, Karnataka Industry Minister MB Patil said: "this is an important opportunity for Foxconn to work with the Karnataka government to promote the implementation of these projects. These projects will make a significant contribution to the state's economic growth and provide jobs for thousands of skilled workers."

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