Foxconn unit said to be in talks for US$200 million components plant in India’s Tamil Nadu
- FII, which makes communication, mobile network and cloud computing equipment, shared a plan with state officials to initially invest up to US$200 million in the facility
- Foxconn already has a sprawling campus near Chennai, capital of Tamil Nadu, where it assembles Apple’s iPhones
A Foxconn Technology Group subsidiary is in talks with India’s southernmost state, Tamil Nadu, to invest up to US$200 million to build a new plant for electronic components in the region, two sources with direct knowledge told Reuters on Wednesday.
Brand Cheng, CEO of Foxconn Industrial Internet (FII), and other company representatives last week met Tamil Nadu officials, including its chief minister, to discuss investments in the state, the government said in a statement after the meeting, without elaborating.
FII, which makes communications, mobile network and cloud computing equipment, has shared a plan with state officials to initially invest US$180 million to US$200 million in the facility, said one of the sources.
Taiwan-based Foxconn, the world’s largest electronics contract manufacturer, and a spokesman for Tamil Nadu’s industries department declined to comment.
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Foxconn, formally known as Hon Hai Precision Industry, already has a sprawling campus near Chennai, the capital of Tamil Nadu, where it assembles Apple’s iPhones.
The sources, who declined to be named as the talks are private, did not elaborate on the plan or say if parts made at the proposed facility would be used in iPhones or another company’s products.
Foxconn aims to complete the plant by 2024, with further investments expected afterward, the first source said.
A final decision has not been made, both sources said.
Foxconn is also in talks with western Gujarat state as it eyes entry into 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, Karnataka state government in south India said it held talks with FII, which had committed to invest US$1.07 billion for a new plant.
