A Foxconn subsidiary is in talks with India’s Tamil Nadu state to invest up to $200 million (roughly Rs. 1,638 crore) to build a new plant for electronic components in the southern 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 communication, mobile network and cloud computing equipment, has shared a plan with state officials to initially invest $180 million (roughly Rs. 1,475 crore) to $200 million in the facility, said one of the sources.
News Source : gadget360
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