Foxconn: Foxconn to invest $600 million to set up two plants in Karnataka

Apple supplier Foxconn will invest $600 million to set up two manufacturing plants in Karnataka. One of the plants will be established in a partnership with US-based Applied Materials, the government said.

Foxconn will invest $350 million to set up a unit to manufacture components for smartphones, including for iPhone. It will also invest $250 million in a second plant where it will produce chipmaking tools in partnership with Applied Materials.
Applied Materials supplies equipment and services for the manufacture of semiconductor chips for electronic products like computers and smartphones, among others.

Foxconn CEO meeting with government officials
According to a report by news agency Reuters, the investment decisions follow a meeting between Foxconn Chairman Young Liu, Karnataka’s IT minister Priyank Kharge and large and medium industries minister MB Patil.
Last month, Patil said that Foxconn may set up the unit at Devanahalli Information Technology Investment Region (ITIR) in the state. He said that chief minister Siddaramaiah chaired a high-level meeting with the delegates, which included Foxconn CEO, Brand Cheng.
The plant is claimed to create 14,000 jobs and the land required for the project is about 100 acres, Patil said. The state is also ready to provide the land to set up the manufacturing unit in the Japanese industrial Park near Tumakuru.
Foxconn’s other investments
Reports also claimed that Foxconn subsidiary is also in talks with the Tamil Nadu government to invest up to $200 million to build a new plant. It was reported that this particular plant will be set up to manufacture electronic components.
The Foxconn team met Chief Minister MK Stalin.

“Was delighted to meet the Foxconn Group Chairman Mr.Young Liu and his team. Various investment opportunities in Tamil Nadu were discussed. Investment commitment to establish a mobile component manufacturing facility in Kancheepuram district for Rs 1,600 crore with potential employment for 6,000 persons was signed in my presence,” Stalin said.
“We also discussed further investments in EV (electric vehicle) and electronic components. Another milestone in our ambition to make TN the new emerging electronics manufacturing hub of Asia!” Stalin tweeted.
Foxconn is reportedly also in talks with Gujarat to establish a semiconductor plant.