Karnataka, Feb 7 (KNN) Taiwanese electronics giant Foxconn is making significant steps in expanding its footprint in India, particularly in the state of Karnataka.

Sources reveal that Foxconn has opened bids for the construction of a new plant in Karnataka, with an estimated investment of Rs 1,200 crore as reported by PTI.

The project, spearheaded by Foxconn Hon Hai Technology India Mega Development Pvt Ltd, is part of the company's broader investment plan in the region.

The Karnataka government has already given the green light to an investment proposal totalling around Rs 22,000 crore from Foxconn.

Insiders familiar with the matter have disclosed that the newly bid construction project is aimed at establishing an iPhone manufacturing facility in Karnataka.

The announcement comes shortly after Foxconn's regulatory filing on February 6th, which officially invited bids on behalf of its subsidiary for the construction of the plant.

Foxconn's ambitious plans for Karnataka extend beyond smartphone manufacturing.

In the preceding months, the company proposed an initial investment of Rs 8,800 crore for setting up a mobile manufacturing unit in the state.

Additionally, the Karnataka government approved a further investment of over Rs 13,000 crore from Foxconn in December, underscoring the company's significant contribution to the region's industrial landscape.

Government sources have indicated that the upcoming factory, slated to be located in Devanahalli, Karnataka, will specialise in iPhone production and is expected to generate employment opportunities for approximately 50,000 individuals in its initial phase.

(KNN Bureau)