Foxconn India to spend Rs 1,200 cr to build a factory, scale up operations

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Key Points

Chip-making giant Foxconn said on Tuesday that its Indian subsidiary will spend 1200 crore to build a factory..

In an exchange filing, which has been reviewed by ET, the company said that the purpose of investment was 'operational needs.'..

In November, ET had reported that Foxconn would invest more than $1.5 billion in an Indian construction project to fulfil the Apple supplier's "operational needs"...

The investment was made through a Foxconn subsidiary - Hon Hai Technology India Mega Development...

In fact, only last month, the company announced that it would invest $37.2 million and would join hands with HCL Group to establish a chip packaging and testing facility in India..

Full story at Economic Times | 

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