Foxconn To Set Up Rs 1,600 Cr Mobile Component Plant In Tamil Nadu's Kanchipuram
Taiwanese technology manufacturing major Foxconn on Monday said it was setting up a mobile component manufacturing facility in Tamil Nadu's Kanchipuram district at the cost of Rs 1,600 crore.
Lauding the investment, Tamil Nadu’s Minister for Industries said the investment is a testament to the state marking it as the top investment destination in the country.
The announcement came following reports of the deal emerged earlier in the day.
The state’s Industries Ministry took to Twitter to underline the official announcement that read, “Big news and a proud moment for #TamilNadu! Today, in the presence of Hon’ble @CMOTamilnadu Thiru @MKStalin avargal, M/s. Hon Hai Technology Group (#FOXCONN) signed a Letter of Intent with @Guidance_TN to set up a new mobile component manufacturing facility at a cost of Rs. 1600 crore in Kanchipuram district. The project has the potential to generate 6000 jobs.”
The State’s Minister for Industries Dr TRB Rajaa emphasised Foxconn’s repeated investments and expansion plans in Tamil Nadu. He said it is a major achievement that has brought immense success to the state. The Taiwanese company has realised investing more in Tamil Nadu will only add more gains, the Minister added.
He stressed Foxconn’s investments are majorly due to its faith in the leadership of Chief Minister MK Stalin.
Foxconn has an assembling plant for Apple’s iPhone in Chennai marking another reason for the global player's interest in Tamil Nadu.
