FII, A subsidiary of Foxconn, the Taiwanese electronics manufacturing giant, is reportedly in talks with the Tamil Nadu government to invest $200 million to set up a plant of electronic components in Chennai, Tamil Nadu.
FII has shared a plan with state officials to initially invest $180 million to $200 million in the facility, according to the sources. The Taiwan-based company aims to complete the plant by 2024, with further investments expected afterward. However, a final decision is yet to be made.
Recently the Karnataka state government in south India said it held talks with FII, which had committed to invest $1.07 billion for a new plant.
Foxconn is also in talks with western Gujarat state as it eyes entry into India’s semiconductor sector. Its higher officials are expected to speak at a forthcoming annual semiconductor event.
