Karnataka approves Foxconn’s additional Rs 13,911 cr investment

Belagavi: Taiwanese electronics giant Foxconn will invest an additional Rs 13,911 crore in Karnataka with the State High Level Clearance Committee (SHLCC) headed by Chief Minister Siddaramaiah giving approval on Tuesday.

Earlier this year, the previous Basavaraj Bommai-led BJP government had approved the Foxconn’s proposal to invest Rs 8,000 crore.

The company is set to establish a mobile phone manufacturing unit (iPhone) on a 300-acre plot in the Information Technology Investment Region (ITIR) at Doddaballapur and Devanahalli taluks. The initial investment was expected to generate close to 50,000 jobs.