Tamil Nadu govt says Foxconn Hon Hai to invest Rs 1,600 crore to build facility

The Tamil Nadu government on Tuesday clarified that Foxconn Hon Hai (FHH) and not Foxconn Industrial Internet (FII) has signed a letter of intent with the state to build a new facility for electronic components in the southern state.

This comes after reports that Foxconn Industrial Internet, a subsidiary of tech behemoth Foxconn, had signed the deal. However, earlier today, FII had denied signing such agreement, Reuters said citing a report from China’s Securities Times.