It is now official. Apple I phone
contract manufacturer Foxconn has decided to put up its second plant at
Bengaluru with an investment of Rs Eight thousand crores, the state chief
minister Basavaraj Bommai said.
Mr Bommai had made a similar
announcement about a fortnight ago but prompt came the rejoinder from the
Taiwanese telecommunication major that no final decision has been taken to put
up a plant in Karnataka.
Under these circumstances the
Karnataka government gave approval for 18 projects with a total investment of
over Rs 75,000 crore, including a proposal by tech giant Apple's contract
manufacturer Foxconn for Rs 8,000 crore.
The Karnataka government on Monday
20 Mar approved 18 projects with a total
investment of over ₹75,000 crore, including a proposal by tech giant
Apple's contract manufacturer Foxconn for ₹8,000 crore.
Among the 18 projects that were
approved by the State High-Level Clearance Committee under the chairmanship of
Chief Minister Basavaraj Bommai, 10 are
new, five are expansion projects, and three are additional projects..
Foxconn Hon Hai Technology India
Mega Development Private Limited (FHH) would invest Rs 8,000 crore with
employment opportunities for 50,000 people, it said.
A delegation led by Foxconn CEO and Chairman
Young Liu had visited the state and held a meeting with Chief Minister Bommai a
fortnight ago in Bengaluru.
"We are happy that the state
has received such a huge investment. The proposals for green hydrogen, ethanol
production, wind energy power plant, electrical and electronic items
assembling, lithium batteries and electric vehicles, and cement and steel
companies in the state have been approved in the meeting. Karnataka’s
contribution to the manufacturing sector will be remarkable in the
country," Bommai said.
Expressing happiness over the
volume of investment proposals received, Large Industries Minister Murugesh R
Nirani said it is a testimony to the industry-friendly policies and the
conducive ecosystem provided by the state government.
Foxconn had set up contact
manufacturing plant for producing apple I Phones in Sriperumpudur plant nearly
five years ago... But Chennai’s plea has
been rejected by Foxconn. Meanwhile a top official of the Taiwanese major
has gone on record saying that investment climate in Telangana is best in the
country in an indirect attack of the atmosphere in Tamil Nadu. Foxconn has
decided to put up another manufacturing plant in Telangana.