Apple supplier Foxconn ups its investment proposal in Telangana to $550 million

The Board of Directors FIT Hon Teng Ltd (Foxconn) approved the investment of USD 400 million in Telangana, V Lee, Foxconn India representative said in a social media post. Taiwan-based contract manufacturer Foxconn is Apple’s biggest supplier.

“…FIT Singapore’s proposal to make a capital injection of US$ 400,000,000 to Chang Yi Interconnect Technology (India) Private Limited, which is held by FIT Singapore as to 99.99 per cent of the capital stock,” FIT Hon Teng informed the Hong Kong Stock Exchange on Friday.