Foxconn Industrial Internet (FII), a subsidiary of Taiwan-based contract electronics maker Foxconn, is looking to construct a new facility in the Indian state of Tamil Nadu (TN) by next year, reported the Economics Times, citing sources.
Hon Hai Technology, Foxconn’s parent company, already has facilities in the state, and now plans to further expand these locations.
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FII executives, including CEO Brand Cheng, met with Tamil Nadu’s chief minister MK Stalin regarding this plan.
A source was quoted by the publication as saying: “FII is about a third of Foxconn’s revenue, and one of their major subsidiaries.
“They told the TN government that they are looking at various types of components – mechanical components relating to the phones and that they’re exploring the investment opportunity. The chances look fairly bright.”
FII manufactures cloud service equipment, industrial robots, and electronic products, with clients ranging from Dell, Amazon, Huawei, Apple, and Lenovo.
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By GlobalDataThe initial investment is estimated to be approximately $200m in the plant, with the potential to create 5,000 job opportunities within the state.
Last week, Foxconn decided that it would ‘no longer move forward’ with its $19.4bn joint venture with Vedanta, an Indian metals and energy conglomerate, to build a chip-making plant.
This announcement came within a year of the previous announcement by the two businesses to build the plant in the state of Gujarat.
In a statement, Foxconn said: “There was recognition from both sides that the project was not moving fast enough.
“There were challenging gaps we were not able to smoothly overcome, as well as external issues unrelated to the project.”
Additionally, in May this year, Foxconn broke ground on a $500m manufacturing plant at Kongara Kalan in the state of Telangana in India.
The facility is expected to create 25,000 direct job opportunities in its initial phase of construction.
