A Foxconn unit will sign an agreement with the Indian state of Tamil Nadu on Monday to build a new electronic components factory that will create 6,000 new jobs, a senior government source in India’s Tamil Nadu state with direct knowledge of the matter said. employment position.
Subsidiary Foxconn Industrial Internet (FII) plans to invest Rs. The company is spending 1,600 crore rupees ($194.45 million) to build a campus in Kancheepuram district near the state capital, Chennai, the source added, adding that the source was not authorized to speak publicly about the matter.
The plant will be separate from its current sprawling campus near Chennai, where Foxconn assembles Apple iPhone models and employs more than 35,000 people, sources said.
Foxconn did not immediately respond to a request for comment. The state government did not immediately respond to a request for comment, but said on LinkedIn on Monday morning that it expected “major announcements” to be made that day, meaning that Tamil Nadu would retain its “top status as India’s electronics powerhouse.”
Reuters reported last week that the Foxconn subsidiary was in talks with Tamil Nadu for the investment, with the company targeting completion of the plant in 2024.
Fii, a subsidiary of Foxconn, produces electronic equipment, cloud service equipment and industrial robots. It’s unclear whether the new India factory will produce parts for iPhone models or other companies, or both.
The state government is expected to make a formal announcement later in the day, sources said. Foxconn Chairman Liu Yang is in India to attend the federal government’s semiconductor conference and will attend the signing ceremony with the state chief minister.
Reuters reported last year that Foxconn plans to quadruple the number of employees at its iPhone factory in Tamil Nadu state by the end of 2024 as it expands its bet beyond China.
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