K’taka Govt Approves Foxconn’s Rs 8,000 Cr Investment Proposal

The Government of Karnataka in its 61st meeting of the State High-Level Clearance Committee approved 18 projects with a total investment of Rs 75,393.57 crore including Foxconn.

Foxconn Hon Hai Technology India Mega Development Private Limited (FHH) would invest Rs 8,000 crore with employment opportunities for 50,000 people.

A delegation led by Foxconn CEO and Chairman Young Liu had visited the state and held a meeting with CM Basavaraj Bommai a fortnight ago in Bengaluru.

Amongst the 18 projects that got approval in Karnataka government were 10 new and 5 expansion projects, and 3 additional projects.

Speaking at the meeting, Chief Minister Basavaraj Bommai said, “We are happy that the state has received such a huge investment. In this regard, the proposals for green hydrogen, ethanol production, wind energy power plant, electrical and electronic items assembling, lithium batteries and electric vehicles, and cement and steel companies in the state have been approved in the meeting. Karnataka’s contribution to the manufacturing sector will be remarkable in the country "

Karnataka has also approved proposals from Amplus Active Private Limited, Ayana Renewable Power Six Private Limited, TATA Advanced Systems Limited."