‘No Fox or Con’: Foxconn surely investing Rs 1,600 crore in TN, says Minister

Foxconn to set up mobile component facility in TN investing Rs 1,600cr .(photo:Twitter) /IANS

Chennai, Aug 1 (IANS) Taiwanese electronics major Hon Hai Technology Group or Foxconn will surely invest Rs 1,600 crore in Tamil Nadu and has signed an agreement with the state government to this effect, Industries Minister T.R.B. Rajaa said on Tuesday.

Referring to the news reports about Foxconn Industrial Internet (FII) denying proposed investment in Tamil Nadu, Rajaa told reporters that the news agency should have asked the correct company about the investment plans.

“If the news agency had asked a wrong company about investing in Tamil Nadu then the answer would be a no,” he said.

Rajaa said Hon Hai Technology Group Chairman Young Liu also spoke to the media about the decision to invest in the state.

On Monday, Foxconn and Tamil Nadu government signed an agreement whereby the former would invest Rs1,600 crore to set up a mobile phone component manufacturing facility in Kancheepuram district.

The Foxconn team had met Chief Minister M.K Stalin here. “Was delighted to meet the Foxconn Group Chairman Mr.Young Liu and his team. Various investment opportunities in Tamil Nadu were discussed. Investment commitment to establish a mobile component manufacturing facility in Kancheepuram district for Rs. 1,600 crore with a potential employment for 6,000 persons was signed in my presence”

“We also discussed further investments in EV (electric vehicle) and electronic components. Another milestone in our ambition to make TN the new emerging electronics manufacturing hub of Asia!” Stalin had tweeted.

Rajaa had said the Taiwanse group’s repeated investments and expansion plans in Tamil Nadu is a testament of Tamil Nadu being the top choice for manufacturing in India for major companies across the world.

“Manufacturers who have seen immense success in Tamil Nadu over the past many years know that by investing more in the state they will only gain more,” he had tweeted. “With this proposed investment, and many more to come, Tamil Nadu is poised to not only remain the top electronics exporter in the country, but also significantly increase its electronics exports in the coming years,” he added.

Currently, Foxconn has a facility near here to assemble iPhone for Apple.

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