iPhone-maker Foxconn will spend Rs 1,200 crore to install new factory in India
Foxconn reportedly intended to invest over $1.5 billion in an Indian building project, according to several reports from last year. The company's "operational needs" were another reason for this endeavor.
iPhone-maker Foxconn will spend Rs 1,200 crore to install a new factory in India in 2024.
The Taiwanese business Foxconn declared on Tuesday that it would invest Rs 1200 crore in constructing a new plant in India. The corporation will construct this facility on property that it already owns.
A regulatory filing disclosed details on the largest iPhone manufacturer in India. The business stated that these funds are being invested for “operational needs.” This indicates that, in order to maintain a profitable business, they must spend this money.
Foxconn reportedly intended to invest over $1.5 billion in an Indian building project, according to several reports from last year. The company’s “operational needs” were another reason for this endeavor. Hon Hai Technology India Mega Development, a division of Foxconn, provided funding for this project.
Foxconn’s company has been expanding rapidly in India. Foxconn announced just one month ago that it would collaborate with HCL Group for $37.2 million. Together, they’ll build a testing and packaging plant for semiconductors in India. This announcement followed the collapse of a proposed alliance with the Vedanta Group.
Read more HR news like this on PropleManager.co.in
Value our content… contribute towards our growth. Even a small contribution per month would be of great help to us. Since our establishment, we have been serving the industry through daily news and updates.
Our content is free for all, and we plan to keep it that way
Support the People Manager. Pay Here (All it takes is a minute)
- Lubrizol and Polyhose Sign MoU to Manufacture Medical Tubing, Expand Capacity in Chennai - November 14, 2024
- After Seen 6.6% Rise of EPFO Contributors Government plans to hike EPF wage ceiling to Rs 21,000 - November 11, 2024
- Termination Of Service After Employee’s Retirement Unknown To Law In Absence Of Pending Departmental Proceedings: Patna High Court - November 5, 2024
