The Karnataka Industrial Areas Development Board (KIADB) will compensate the landowners in the Foxconn facility acquisition in Bengaluru to the local court in Devanahalli, according to a media report on Saturday.
The KIADB has acquired 867.37 acres of land in Kundana Hobli and allocated 300 acres of it to the Taiwanese company to build its modern facility to assemble 20 million smartphones annually.
The 300-acre facility of Foxconn will be spread across the Doddagollahalli and Chpparadahalli villages in Devanahalli taluka, near the Kempegowda International Airport, Bengaluru.
The landowners' compensation was also confirmed by KIADB CEO M Mahesh, who said his organisation is payable to the deposit as directed by the Bengaluru local court.
Last year in March, the government approved Foxconn’s proposal to invest USD 1 billion for setting up an iPhone factory, the company further increased its investment by an additional USD 1.7 billion.
