Foxconn to invest $600 million in Karnataka to manufacture components and chipmaking tools

The world's largest contract manufacturer will be in partnership with Applied Materials, a key player in the semiconductor equipment-making industry, in one of the projects.

A woman walks past the logo of Foxconn outside the company's building in Taipei, Taiwan November 9, 2022 | Reuters

BENGALURU– Taiwan’s Foxconn will invest $600 million in two manufacturing projects in southern Indian state of Karnataka, including one which will be a partnership with U.S.-based Applied Materials, a state government statement said.

Foxconn will invest $350 million to set up a unit to manufacture components for smartphones, including for iPhone, said the statement, first being reported by Reuters.

The world’s largest contract manufacturer will also invest $250 million in a second plant where it aims to produce chipmaking tools in partnership with Applied Materials, a key player globally in the semiconductor equipment making industry.

(Reporting by Munsif Vengattil in Bengaluru; Editing by Aditya Kalra and Himani Sarkar)

Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.