Taiwanese manufacturer Foxconn will invest $600 million in Karnataka for two manufacturing projects. One of the said projects will be in partnership with US-based manufacturing company, Applied Materials.
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Foxconn will invest $350 million to set up a unit to manufacture casing components for smartphones, including Apple’s iPhones. This unit is expected to generate 12,000 jobs. The company already has an assembling plant in Tamil Nadu for iPhones.
The company will invest $250 million in the second plant and produce chip making tools in partnership with Applied Materials, a well-known semiconductor equipment maker.
The investment decisions follow a meeting between Foxconn Chairman Young Liu, Karnataka’s IT minister Priyank Kharge, and Industries Minister MB Patil.
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This development comes a day after the Karnataka government announced on Monday that Foxconn would set up a mobile component manufacturing facility in Tamil Nadu’s Kanchipuram district at the cost of Rs 1,600 crore. The plant is expected to create 6,000 jobs. Tamil Nadu’s Minister for Industries TRB Rajaa said that Foxconn’s repeated investments and expansion plans in Tamil Nadu – a reference to its iPhone assembling plant in Chennai – are a testament that the state is a top choice for manufacturing for the major companies across the world.
Meanwhile, Karnataka signed yet another big deal on Tuesday with International Battery Company (IBC). IBC has signed an investment pact worth Rs 8,000 crore or $971.89 million to build a battery manufacturing facility.
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The facility would be spread across 100 acres, confirmed state’s Minister for Commerce & Industries, Infrastructure, MB Patil.
