Foxconn to set up mobile component plant in Kanchipuram: Plant to be built in 1,600 crores, Industries Minister said – Tamil Nadu is the top investment destination in the country

Taiwanese electronics manufacturer Foxconn will set up a mobile component plant in Tamil Nadu. For this, Taiwan’s Hon Hai Technology Group (Foxconn) has signed a letter of intent (LOL) with the state government.

The state industry ministry officially announced the deal on Monday after reports surfaced. The plant will be set up near Foxconn’s existing iPhone plant at Sriperumbudur in Kancheepuram district at a cost of Rs 1,600 crore.

Tamil Nadu Chief Minister MK Stalin met Foxconn Chairman and CEO Young Liu regarding the deal. State Industries Minister TRB Raja, Chief Secretary Shiv Das Meena, Additional Chief Secretary (Industries) S Krishnan, Guidance Tamil Nadu MD & CEO Vishnu Venugopalan, Foxconn Chief Strategy Officer (Semiconductor) SY Chiang and top company officials were also present on the occasion. .

6 thousand people will get employment

Mobile parts will be made in this plant. 6 thousand people can get employment under this project. Tamil Nadu Industries Minister Dr. TRB Raja said that this investment is a testimony to the fact that the state is the top investment destination in the country. Earlier in the day, news agency Reuters reported that the plant is expected to be completed by 2024.