Published Mar 06, 2023 | 11:13 PM ⚊ Updated Mar 07, 2023 | 12:10 AM
Foxconn had signed a "Letter of Intent", expressing intent to establish a manufacturing facility in a 300-acre land parcel at an industrial area near Doddaballapura. (Twitter)
Hon Hai Technology Group (Foxconn) on Monday, 6 March, said that it would be in “close contact” with the Karnataka government to take forward and ensure the “successful grounding” of its manufacturing project near Bengaluru.
Hon Hai Precision Industry Chairman Young Liu, who was recently in the city, wrote to Chief Minister Basavaraj Bommai in this regard.
Taiwanese tech giant Foxconn is the contract manufacturer for Apple’s iPhones and several other of the company’s products.
The letter has gained significance amid reports of Foxconn denying that it had “entered into any binding, definitive agreements” and allegedly saying that it was planning new investments in the country.
“My team will be in close contact with your team to take this forward and ensure successful grounding of ‘Project Elephant’ in Bengaluru. I am confident that this project will lay a strong foundation for our other multiple plans, spanning mechanical/precision machinery, electric vehicle, IC design & semiconductor segments to consider your state as a potential investment destination,” Liu said.
Thanking the chief minister and his government for making his visit to Bengaluru a “big success”, he said, “Chief Secretary Vandita Sharma and senior officials made a presentation on three key pillars essential for making ‘Project Elephant’ a grand success.”
He added: “It was great to note the infrastructure readiness timelines, the Government of Karnataka’s support for skilling and talent acquisition, and the availability of social infrastructure around the region where the plot is earmarked for the project.”
The chief minister had held discussions with Liu and his team in Bengaluru on 3 March.
Foxconn also signed a “Letter of Intent” with the Karnataka government, expressing intent to establish a manufacturing facility over a 300-acre land parcel at an industrial area near Doddaballapura within a period of five years.
Agreement signed with Foxconn, leading electronics major, to make major investment in state after a detailed discussion with co’s C’man Young Liu. It will expected to create 1 lakh jobs. 300 acres of land near Bengaluru Int. airport allocated.
1/2 pic.twitter.com/oDPQMQbVPo— Basavaraj S Bommai (@BSBommai) March 3, 2023
The proposed years of investment were said to be 2023-27, and the proposed employment opportunities would be 1 lakh, according to the Letter of Intent.
The letter also said that the Karnataka government would facilitate Foxconn to obtain necessary permissions, registration, approvals, clearances, and incentives from the concerned departments of the state as per prevailing policies, rules, and regulations.
Following the meeting, the chief minister’s office had tweeted, “The meeting was followed by signing of the MoU with the company to invest in the state. 300 acre land has been identified near Bangalore airport and it is expected to create 1 lakh jobs. [sic]”
ವಿಶ್ವದ ಮುಂಚೂಣಿ ಎಲೆಕ್ಟ್ರಾನಿಕ್ಸ್ ಕಂಪನಿ ಹಾನ್ ಹಾಯ್ ಟೆಕ್ನಾಲಜಿ ಗ್ರೂಪ್ ನ ಫಾಕ್ಸ್ ಕಾನ್ ಕಂಪನಿಯು ರಾಜ್ಯದಲ್ಲಿ ಗಣನೀಯ ಪ್ರಮಾಣದಲ್ಲಿ ಹೂಡಿಕೆಗೆ ಮುಂದಾಗಿದ್ದು, ಒಪ್ಪಂದಕ್ಕೆ ಸಹಿ ಮಾಡಲಾಯಿತು. ಕಂಪನಿಯ ಅಧ್ಯಕ್ಷ ಯಂಗ್ ಲಿಯವರೊಂದಿಗೆ ಈ ಕುರಿತು ವಿಸ್ತೃತ ಚರ್ಚೆ ನಡೆಸಲಾಯಿತು.
1/2 pic.twitter.com/ofusiKMCD3— Basavaraj S Bommai (@BSBommai) March 3, 2023
(Disclaimer: The headline, subheads, and intro of this report along with the photos may have been reworked by South First. The rest of the content is from a syndicated feed, and has been edited for style.)
