Foxconn to invest $110 mn in India
Foxconn will set up $110 million plant in Chennai to manufacture mobile handset and other components.Updated: Feb 25, 2006 15:27 IST
Communication and IT Minister Dayanidhi Maran said on Saturday that Foxconn, a leading Taiwan based manufacturer of connectors for use in personal computers and printed circuit boards (PCB) for mobile phones, will set up $110 million plant in Chennai to manufacture mobile handset and other components.
The company has also committed to manufacture mobile handset and other components at Nokia Special Economic Zone (SEZ) and develop an electronic hardware and related services in special economic zone, jointly with SIPCOT and Motorola at HI-Tech Innovation Park SEZ at Sriprumbadur near Chennai.
The project is expected to generate 10,000 jobs in the state.
Refuting the allegation that he was promoting Chennai to score brownie political points, Maran said, "The aim is to promote manufacturing in India. I want Indian entrepreneurs along with the big foreign players to enter the manufacturing and just not focus on services.
"We have created a right ambience here and eco system for global manufacturers to come and set up facilities here in Chennai," the minister said.
First Published: Feb 25, 2006 15:27 IST