Foxconn spreads its manufacturing footprint in South India; signs LoI to set up facility in Bengaluru

Bengaluru, Mar 4 (KNN) Foxconn, iPhone maker on Friday signed a letter of intent (LoI) with Karnataka government to set up a major manufacturing facility in Bengaluru. 

Earlier this week, the Taiwanese giant signed an agreement with Telangana government at the Pragati Bhavan to establish a manufacturing plant. 

The electronics manufacturing plant in Bengaluru is expected to come up on a 300-acre site near the city’s international airport. 

The total investment will be more than USD 500 million, and may even exceed USD 1 billion over time, as per government sources. 

The letter of intent said the proposed investment would happen between 2023 and 2027, and that the project would employ about 1 lakh people.  (KNN Bureau)