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☆ Foxconn Industrial Internet denies signing deal with Tamil Nadu -report
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

BEIJING/TAIPEI, Aug 1 (Reuters) - A subsidiary of tech giant Foxconn (2317.TW) said that it had not signed any agreement to invest 16 billion rupees ($194.6 million) in Tamil Nadu, China's Securities Times reported on Tuesday. The government of the southern Indian state of Tamil Nadu said on Monday it has signed a deal with Foxconn for a new electronic components manufacturing facility that would create 6,000 jobs. The Foxconn Industrial Internet (FII) (601138.SS) facility will be built in the Kancheepuram district near the state capital of Chennai, a state government source told Reuters on condition of anonymity as details are not yet public. "We did not sign any investment agreement," FII was quoted as saying by the Securities Times newspaper, adding the company had issued a statement in July refuting similar "rumours." ($1 = 82.2290 Indian rupees)Reporting by Beijing Newsroom and Yimou Lee in Taipei; Editing by Jacqueline Wong and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: FII, Foxconn, Yimou Lee, Jacqueline Wong, Jamie Freed Organizations: China's Securities Times, Foxconn, Securities Times, Beijing Newsroom, Thomson Locations: BEIJING, TAIPEI, Tamil Nadu, Kancheepuram, Chennai, Taipei

☆ Apple supplier Foxconn plans $500 mln component factories in India - Bloomberg News
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

July 31 (Reuters) - Apple's (AAPL.O) main supplier, Foxconn Technology Group (2317.TW), is planning to invest close to $500 million to build two component factories in India, Bloomberg News reported on Monday, citing people familiar with the matter. These factories will be built in the southern state of Karnataka and at least one of them will produce Apple parts, including for iPhones, the report said. Foxconn and Apple did not immediately respond to Reuters requests for comment. Karnataka has already approved investment to the tune of 80 billion rupees ($972.88 million) by a Foxconn unit in March, making it the third southern Indian state after Andhra Pradesh and Tamil Nadu to allow Foxconn plants. ($1 = 82.2300 Indian rupees)Reporting by Urvi Dugar and Chavi Mehta in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Urvi Dugar, Chavi Mehta, Arun Koyyur Organizations: Foxconn Technology, Bloomberg, iPhones, Apple, Tamil, Thomson Locations: India, Karnataka, Andhra Pradesh, Tamil Nadu, China, Kancheepuram, Chennai, Bengaluru

[1/2] FILE PHOTO-The logo of Foxconn is pictured on top of a company's building in Taipei, Taiwan October 31, 2022. The facility will be separate from the current sprawling campus near Chennai where Foxconn assembles Apple's (AAPL.O) iPhones and employs more than 35,000 people, the source said. "This is a major achievement for the state," Tamil Nadu Minister for Industries TRB Rajaa said in a statement, after Foxconn Chairman Young Liu and other representatives met with the state officials including its chief minister. Reuters reported last week that the Foxconn subsidiary was in talks with Tamil Nadu about the investment, with the company aiming for the plant's completion in 2024. Foxconn plans to quadruple the workforce at its iPhone factory in Tamil Nadu by late 2024 in a bid to spread its bets beyond China, Reuters reported last year.

Persons: Carlos Garcia Rawlins, Foxconn, Industries TRB Rajaa, Young Liu, Liu, Foxconn's, Munsif, Yi, Mou Lee, Aditya Kalra, Jamie Freed, Himani Organizations: REUTERS, Industrial, Tamil Nadu Minister, Industries, Foxconn, Sunday, Reuters, Tamil, Thomson Locations: Taipei, Taiwan, CHENNAI, Kancheepuram, Chennai, Tamil, India, Tamil Nadu, China, Bengaluru, Praveen

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