Global electronic manufacturing giant
Foxconn today announced it will invest USD five billion over the next five
years in Maharashtra,
which has given the Taiwan-based company 1,500 acres of
land for its plant.
Foxconn Chairman Terry Gou said the
facility in Maharashtra will focus on research and development as well as
manufacturing, and the company has chosen the state for being a financial
centre, availability of quality talent and software-hardware integration
facilities.
Foxconn will look for tie-ups with
local partners for its presence in this state, Gou said, while adding that this
MoU with the Maharashtra government was different from the already announced JV
with the Adani group.
At an event organised to announce the
investment and a Memorandum of Understanding in this regard between the company
and the state government, Maharashtra Chief Minister Devendra Fadnavis said
Foxconn will be given 1,500 acres of
land. Foxconn will create direct employment of 50,000 people through this MoU,
Fadnavis said.
Gou said the MoU between Foxconn and
the state government for setting up the plant follows two months of active
discussions during which he met the Chief Minister seven times and a team of
60-70 persons from Foxconn was working on this.
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