The Karnataka state government of India issued a statement today saying that Foxconn plans to invest an additional 139.11 billion rupees in the state.
According to reports, this additional investment will be used to open a new manufacturing plant in Devanahalli, where Foxconn has previously acquired 300 acres of land. The industry believes that this plant is likely to be used for assembly of Apple iPhone.
▲Foxconn Bharat FIH factory, source: Foxconn official website
In November last year, the iPhone maker announced that it would expand its operations in India and invest NT$50 billion (currently about 11.4 billion RMB).
Earlier, Karnataka Industries Minister MB Patil had also said: “This is an important opportunity for Foxconn to work with the Karnataka government to advance the implementation of these projects. These projects will have a great impact on the state.” contribute significantly to economic growth and provide employment opportunities for thousands of skilled workers.”
