Foxconn unit in talks for $200 million components plant in Tamil Nadu

Taiwan-based Hon Hai Technology Group, the subsidiary of Foxconn Industrial Internet (Fii), is in talks with the Tamil Nadu government to invest around $200 million to set up an electronic components unit in the state.

According to a Reuters report, FII, which makes communication, mobile network and cloud computing equipment, has shared the plan with the Tamil Nadu state officials.

Business Standard had reported last week that Fii’s chief executive officer (CEO) Brand Cheng met Tamil Nadu Chief Minister M K Stalin and Minister for Industries, Investment Promotion and Commerce TRB Rajaa. This is part of the company’s larger strategy to bolster its presence in India.