Team Blitz India
CHENNAI: A subsidiary of Foxconn, the Taiwanese electronics manufacturing giant, is reportedly planning to invest up to $200 million to set up a plant of electronic components in Chennai.
According to a report by the Reuters news agency, Foxconn Industrial Internet (FII)’s CEO Brand Cheng and other company representatives met last week Tamil Nadu Chief Minister MK Stalin and other government officials to discuss the investment in the southern state.
FII has shared a plan with state officials to initially invest $180 million to $200 million in the facility, the agency said citing sources.
The Taiwan-based company aims to complete the plant by 2024, with further investments expected afterward. The Foxconn Industrial Internet makes communication, mobile network, and cloud computing equipment. Foxconn already has a sprawling campus near Chennai where it assembles Apple’s iPhones.
