iPhone assembling company Foxconn to set up supplementary plant in Karnataka with an investment of Rs 8,800 crore
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About 100 acres of land will be required for the project. FII will also manufacture the screen and outer cover, apart from manufacturing the components required for the phone. It will serve as a complementary plant to the assembly unit at Devanahalli (ITIR). Significantly, the Karnataka government had indicated that it does not want to lose this project in any way. She will try her best to remove the obstacles coming in the way of this project through dialogue.
This is the second investment proposal given to Karnataka by Foxconn and its subsidiaries this year. In March this year, the company has selected the Information Technology Industrial Region near Bangalore airport to set up a phone manufacturing plant, where the company will invest Rs 8,000 crore. The manufacturing unit with the proposed investment of this unit is expected to be commissioned from April 2024.
Let us tell you that Foxconn was in the news recently when its deal with Vedanta to set up a semiconductor manufacturing plant in Gujarat was cancelled. Reports at the time suggested that Vedanta was unable to acquire the technology needed to manufacture the chips. Due to this the deal was getting delayed continuously.
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