Foxconn Unit Planning To Build Facility In Tamil Nadu By Next Year

Chinese tech giant Foxconn, which sells components to Apple and Lenovo, is looking to build an operational facility in Tamil Nadu by next year, as per a report by The Economic Times.

Hon Hai Technology, the parent company of Foxconn, already has large existing facilities in Tamil Nadu and it is now looking to ramp up its operations in the South Indian state. It manufactures iPhones for Apple exclusively in a facility in Sriperumbudur near Chennai, as per ET report.

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Foxconn Industrial Internet (FII) top officials including its CEO Brand Cheng met Tamil Nadu chief minister MK Stalin on Wednesday. FII is a subsidiary of Foxconn, which is the world’s largest contract manufacturer for Apple.

"FII is about a third of Foxconn's revenue, and one of their major subsidiaries. They told the TN government that they are looking at various types of components - mechanical components relating to the phones and that they're exploring the investment opportunity. The chances look fairly bright." sources were quoted as saying by ET.

Sources further highlighted that FII executives have indicated ‘strong interest’ and are still evaluating the opportunity. As per the ET report, the investment for the initial phase is expected to be around $200 million and could create  around 5,000 jobs.

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"The Chief Minister MK Stalin met them and said he would extend his support and facilitate the project. Industries Minister TRB Raja also spoke about the industrial ecosystem and the availability of a skilled workforce,” another source was quoted as saying by ET.

Recently, Foxconn announced that it had decided to end the joint venture with Vedanta, which would have brought chip making to India.