Foxconn to invest 8,800 crores in Karnataka: company proposed in meeting with CM Siddaramaiah, will manufacture iPhone screen and other accessories.

Taiwan’s electronics company Foxconn has talked about another investment of Rs 8,800 crore with the Karnataka government. This information has been received from a statement issued by the Chief Minister’s Office.

14,000 new jobs claimed

According to Foxconn Industrial Internet’s proposal, the investment would require 100 acres of land and would create 14,000 new jobs after its arrival. As per reports, representatives of the investing Foxconn subsidiary also visited the Japan Industrial Township in Tumakuru.

Plant will be commissioned in April 2024

This is the second investment proposal given to Karnataka by Foxconn and its subsidiaries this year. In March this year, the company has selected the Information Technology Industrial Region near Bangalore airport to set up a phone manufacturing plant, where the company will invest Rs 8,000 crore. The manufacturing unit with the proposed investment of this unit is expected to be commissioned from April 2024.

Company will make screen and outer cover

A statement issued from the Chief Minister’s Office said that CM Siddaramaiah presided over a meeting which was also attended by Foxconn Industrial Internet CEO Brand Cheng and his delegation. The meeting discussed the proposal to build one more supplementary plant in ITIR area at Devanahalli. It has been said in the statement that instead of the mechanical components required for the phone, the company will manufacture the screen and outer cover. It will serve as a supplementary plant to the assembly unit at Devanahalli.