Foxconn invests ₹1,200 crore in a massive Karnataka-based facility.
By Ashutosh Arora
Foxconn has made a significant investment of approximately ₹1,200 crore (around USD 144 million) into its Karnataka facility, known as Foxconn Hon Hai Technology India Mega Development.
Recently, the Karnataka government revealed that Foxconn plans to invest ₹25,000 crore in its new manufacturing facility near Dodda Ballapur. This factory is expected to generate 40,000 jobs, primarily for individuals with mid-level educational qualifications.
The government has allocated 300 acres for this essential mobile manufacturing unit, which will be Foxconn’s second-largest facility globally, following its plant in China.
In addition, Foxconn Singapore has recently acquired over 120.35 crore shares of its Indian subsidiary at ₹10 per share. This recent investment increases Foxconn Singapore’s total commitment to its Karnataka operations to over ₹13,800 crore. The company is also considering investments in other sectors.
