BENGALURU (Reuters) -Taiwan’s Foxconn will invest $600 million in two projects in the southern Indian state of Karnataka for chip equipment manufacturing and casing components for iPhones, the state government said on Wednesday.
Some $350 million will go towards setting up the iPhone component unit which will generate 12,000 jobs, while Foxconn will tie up with Applied Materials in a $250 million project to make chip-making tools, the government said. Reuters was first to report on the investment plans on Wednesday.
The investment decisions follow a meeting between Foxconn Chairman Young Liu, Karnataka’s IT minister Priyank Kharge, and Industries Minister MB Patil.
(Reporting by Munsif Vengattil in Bengaluru; editing by Aditya Kalra and Himani Sarkar; editing by Jason Neely)
