According to two people with firsthand information, a Foxconn subsidiary is in discussions to spend up to $200 million in the construction of a new electronic component facility in Tamil Nadu, India.
The chief executive of Foxconn Industrial Internet (FII), Brand Cheng, and other corporate executives met with Tamil Nadu authorities, including the chief minister, last week to explore investments in the state, according to a statement released by the government without more explanation.
According to one of the sources, FII, a manufacturer of communication, mobile network, and cloud computing equipment, has revealed with state authorities an intention to spend an initial $180 million to $200 million in the facility.
Both a representative for Tamil Nadu’s industries department and Foxconn, the biggest contract electronics manufacturer in the world, refused to comment.
In Tamil Nadu, Foxconn already has a sizable site where it assembles Apple’s iPhones.
The sources would not expand on the concept or specify whether components produced at the prospective factory will be utilized in iPhones or the goods of another firm since the discussions are confidential.
Foxconn plans to finish the facility by 2024, and further investments are anticipated after that, according to the first source.
According to both reports, no final decision has been made.
Foxconn is also in discussions with the state of western Gujarat as it seeks to enter India’s semiconductor market. This week, the government will hold an annual semiconductor event, and its chairman Young Liu is scheduled to speak there.
The south Indian state of Karnataka’s administration said last week that it had discussions with FII, which had agreed to spend $1.07 billion in a new facility.