The Tamil Nadu government has clarified that Foxconn Corporation is indeed investing in the state. Reuters had previously reported a denial of investment by a Foxconn subsidiary. However, a senior government official confirmed the investment’s authenticity to Puthiya Thalaimurai.
There are currently two Foxconn facilities in Tamil Nadu, and this new investment marks the third facility, according to an official from the Department of Industries. This has resulted in job creation and increased production within the existing facility.
A recent Reuters report cited a subsidiary of Foxconn, stating that they hadn’t agreed to invest $213 million with the state. The clarification from the Tamil Nadu government indicated that the deal was made with Foxconn’s parent company in Taiwan, while the Reuters report spoke to a source from the subsidiary Foxconn Industrial Internet (FII) in China.
The TN government announced a deal with Foxconn to establish an electronic components manufacturing facility, estimated at $213 million, potentially generating 6,000 jobs. Tamil Nadu Chief Minister MK Stalin tweeted about the investment commitment, expressing his ambition to make the state a prominent electronics manufacturing hub in Asia.
