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Foxconn to invest $110M in India
By agencies
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Tuesday, 28 February 2006, 20:30 IST
NEW DELHI: Foxconn, Taiwan-based manufacturer of connectors for use in personal computers and printed circuit boards (PCB) for mobile phones, is planning to 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 SEZ, 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, announced Communication and IT Minister Dayanidhi Maran.
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.