Foxconn has invested approximately Rs 1,200 crore (about USD 144 million) into its Karnataka facility, known as Foxconn Hon Hai Technology India Mega Development.
Last week, the Karnataka government announced that Foxconn intends to spend Rs 25,000 crore on its latest manufacturing facility near Dodda Ballapur. The factory will create 40,000 jobs, mostly for workers with middle-level educations.
The government has set aside 300 acres for this crucial mobile manufacturing unit. It will be Foxconn’s second-largest facility in the world, after its plant in China.
Moreover, Foxconn Singapore has recently acquired over 120.35 crore shares of the Indian subsidiary at Rs 10 per share. This latest investment brings Foxconn Singapore’s total commitment to its Karnataka operations to over Rs 13,800 crore. The company also plans to explore investments in additional sectors.
