Foxconn Technology Group, the main supplier for Apple, intends to invest nearly $500 million (4,100 INR-Cr) in constructing two component factories in India. The company has chosen the southern state of Karnataka as the location for these factories. It is anticipated that at least one of these facilities will be dedicated to manufacturing Apple components, including those used in iPhones.
In March, Karnataka approved an investment of $972.88 million (8,000 INR-Cr) by a Foxconn subsidiary, making it the third southern Indian state, after Andhra Pradesh and Tamil Nadu, to welcome Foxconn’s ventures.
Currently, the company is considering specific sites for the upcoming facilities in the state, and an official announcement is expected to be made this week.
Also Read: Foxconn to set up 1,600 INR-Cr electronic component plant in Tamil Nadu
Biltrax Construction Data is tracking 25,000+ projects on their technology platform for their clients.
Get exclusive access to upcoming projects in India with actionable insights and gain a competitive advantage for your products in the Indian Construction Market.
Visit www.biltrax.com or email us at contact@biltrax.com to become a subscriber and generate leads.
Disclaimer: The information contained herein has been compiled or arrived at, based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. The image featured in this article is for representation purposes only and does not in any way represent the project. If you wish the article to be removed or edited, please email editor@biltrax.com.
0
