Foxconn signs Letter of Intent to set up Rs 1,600 crore mobile components manufacturing facility in Tamil Nadu

Tamil Nadu [India], July 31 (ANI): Hon Hai Technology Group (or Foxconn) signed a Letter of Intent to set up a new mobile components manufacturing facility at a cost of Rs 1,600 crore in Kanchipuram district in the presence of Tamil Nadu Chief Minister MK Stalin on Monday.
Giving this information, Tamil Nadu Industries Minister TRB Rajaa said in a tweet that the project has the potential to generate 6,000 jobs.
The Industries Minister said, “Foxconn’s repeated investments and expansion plans in Tamil Nadu are a testament to the state being the top choice for manufacturing in India for major companies across the world.”
“This is a major achievement for the state. Manufacturers who have seen immense success in Tamil Nadu over the past many years know that by investing more in the state they will only gain more. This also illustrates the trust global investors have in the leadership of Chief Minister of Tamil Nadu MK Stalin,” said Rajaa
“With this proposed investment, and many more to come, Tamil Nadu is poised to not only remain the top electronics exporter in the country, but also significantly increase its electronics exports in the coming years. This will play a critical role in attaining our Honourable Chief Minister Thiru MK Stalin’s ambition of 1 trillion USD economy in Tamil Nadu,” said Rajaa. (ANI)