 "Foxconn to set up production facility in Maharashtra")
Taiwan-based Foxconn, the world's largest contract manufacturer of electronics, will sign a memorandum of understanding (MoU) with the Maharashtra government on Saturday, to set up its manufacturing facility in the state.
Confirming this, Maharashtra’s industries minister Subhash Desai told Business Standard: “The company has preferred Maharashtra as the favoured destination for its investment. Foxconn had been shown land in Pune district and also in and around Nagpur and Aurangabad for its proposed investment. In the first phase, the company may invest $1 billion in the state.”
Foxconn makes devices for Apple, Huawei, Xiaomi, Black Berry and Motorola.
Foxconn Technology Group chairman and CEO Terry Gou had on Wednesday announced the company was bringing the entire supply chain to India and not looking just at assembling in India. He also said Foxconn was looking at 10-12 manufacturing units in India. The cumulative investment is expected to be $2 billion.
This is the second MoU being signed in quick success in Maharashtra. Last week, General Motors had proposed to invest Rs 6,400 crore for expansion of its manufacturing facility in Pune district.
Confirming this, Maharashtra’s industries minister Subhash Desai told Business Standard: “The company has preferred Maharashtra as the favoured destination for its investment. Foxconn had been shown land in Pune district and also in and around Nagpur and Aurangabad for its proposed investment. In the first phase, the company may invest $1 billion in the state.”
Foxconn makes devices for Apple, Huawei, Xiaomi, Black Berry and Motorola.
Foxconn Technology Group chairman and CEO Terry Gou had on Wednesday announced the company was bringing the entire supply chain to India and not looking just at assembling in India. He also said Foxconn was looking at 10-12 manufacturing units in India. The cumulative investment is expected to be $2 billion.
This is the second MoU being signed in quick success in Maharashtra. Last week, General Motors had proposed to invest Rs 6,400 crore for expansion of its manufacturing facility in Pune district.