Bengaluru (Karnataka) [India], August 2 (ANI): Karnataka minister MB Patil stated on Wednesday that the state authorities and electronics manufacturing main Foxconn have signed the Letter of Intent (LOI) for 2 initiatives with an estimated funding outlay of Rs 5,000 crore.
An estimated 13,000 jobs are anticipated to be generated by funding intention.
According to Karnataka’s Large and Medium Industries Minister MB Patil, the supposed initiatives embody a cellphone enclosure undertaking for which FII (Foxcon Industrialist Internet), a Foxconn subsidiary, will make investments Rs 3,000 crore and a semicon tools undertaking whereby Foxconn would make investments Rs 2,000 crore in collaboration with Applied Materials.
The cellphone enclosure unit will interact in manufacturing subassembly parts for smartphones, particularly mechanical enclosures of iPhones. The Foxconn subsidiary is at present evaluating appropriate land parcels in and round Bengaluru.
It is to be famous that the corporate management crew had met and held discussions with Karnataka Chief Minister Siddaramaiah, Ministers MB Patil and Priyanka Kharge a number of weeks in the past in Bengaluru. The crew was taken to Japan Industrial Township in Tumakuru the place the obtainable 100-acre land parcel was proven to them.
For the semicon tools manufacturing undertaking in collaboration with Applied Materials, the placement is prone to be finalised on the Haraluru Muddenahalli – Hi-Tech Aerospace and Defence Park-Phase II in Bengaluru Rural district, the place Foxconn has sought a 35-acre plot.
Foxconn Chairman Young Liu was in India final week to attend SemiconIndia 2023 in Gandhinagar, and subsequently visited Chennai on Monday. (ANI)