Foxconn unit to sign $194 million components plant deal with Tamil Nadu

CHENNAI: A Foxconn unit will on Monday sign an agreement with Tamil Nadu state to build a new facility for electronic components that will create 6,000 new jobs, a senior state government source with direct knowledge said.

The subsidiary, Foxconn Industrial Internet (FII) , plans to invest 16 billion Indian rupees ($194.45 million) to build a campus in Kancheepuram district, near the state’s capital of Chennai, added the source, who was not authorised to speak publicly about the matter.