Foxconn Industrial Internet officials discuss investment opportunities with TN government

Foxconn has already proposed to set up a Rs. 8,800 crore manufacturing plant in Karnataka.

Foxconn called on Chief Minister M K Stalin on Wednesday to discuss “investment opportunities” in Tamil Nadu, according to sources. Foxconn Industrial Internet (FII) is a subsidiary of Taiwan-based Hon Hai Technology Group, also known as ‘Foxconn.

According to its website, Foxconn Industrial Internet is a leading global total solution provider for smart manufacturing and industrial internet.

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Senior corporate officials and FII Chief Executive Officer Brand Cheng talked about “investment opportunities” in Tamil Nadu, according to sources.

T R B Rajaa, the minister for industries, and Shiv Das Meena, the chief secretary, were also there.

The FII delegation met with Karnataka Chief Minister Siddaramaiah recently to discuss its proposal to invest Rs. 8,800 crore, therefore the meeting with the Tamil Nadu government is significant.

According to M B Patil, the state’s large and medium industries minister, Foxconn, a significant iPhone manufacturer for Apple, has proposed building a Rs. 8,800 crore supplementary plant to the unit in Devanahalli Information Technology Investment Region (ITIR) in Karnataka.

Foxconn made the decision to leave the joint venture for semiconductors with the diversified conglomerate Vedanta Group at the beginning of this month.

The Vedanta-Foxconn JV had previously declared plans to invest approximately Rs. 1.50 lakh crore in Gujarat to become India’s first electronic chip manufacturing facility.