Foxconn CEO Terry Gou to visit India in August, sign deal to build manufacturing hub in Maharashtra state
Taiwan News
Date: 2018/07/16
By: Scott Morgan, Taiwan News, Staff Writer
TAIPEI (Taiwan News) – Taiwan electronics giant Foxconn (鴻海) and
Foxconn to finally set up shop in Maharashtra state. (By Central News Agency)
Maharashtra state government are likely to finally sign the deal for a manufacturing hub to be built in the west Indian state next month, according to media reports.
It is believed that Foxconn executives met with Maharashtra government officials on July 4 and a formal agreement may be signed next month, when Foxconn CEO Terry Gou (郭台銘) is set to visit India, reported Economic Times.
The deal is a long time coming, after a memorandum of understanding (MOU) for the new factory signed by the two parties in 2015 and Foxconn said it will invest US$5 billion (152.82 billion) in the Maharashtra hub.
The factory will produce components for iPhones, Xiaomi and Nokia products, employing around 50,000 people. [FULL STORY]