Electronics manufacturing giant Foxconn has infused about ₹1,200 crore -- approximately USD 144 million -- into its Karnataka-based Foxconn Hon Hai Technology India Mega Development Pvt Ltd, the company said in a recent regulatory filing.
FILE PHOTO: The logo of Foxconn is seen outside the company's building in Taipei, Taiwan, (REUTERS)
The iPhone contract manufacturer's Singapore-based arm Foxconn Singapore Pte has bought over 120.35 crore stocks of Foxconn Hon Hai Technology India Mega Development Pvt Ltd at ₹10 per share on August 21.
The Karnataka government in a statement last week said Foxconn is planning to invest ₹25,000 crore to establish a massive manufacturing plant near Dodda Ballapur that will create 40,000 jobs.
"The unit in Karnataka will soon become the second-largest Foxconn plant after China's unit. It will create 40,000 direct jobs, especially for middle-level educated individuals, and our investment will not stop here; in the future, we plan to explore other sectors also," Foxconn Chairman Young Liu was quoted as saying in the statement.
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"The unit in Karnataka will soon become the second-largest Foxconn plant after China's unit. It will create 40,000 direct jobs, especially for middle-level educated individuals, and our investment will not stop here; in the future, we plan to explore other sectors also," Foxconn Chairman Young Liu was quoted as saying in the statement.
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With the fresh infusion, Foxconn Singapore has invested over ₹13,800 crore in the Karnataka unit.
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