Foxconn signs Letter of Intent to set up Rs 1,600 crore mobile components manufacturing facility in Tamil Nadu
Foxconn signs Letter of Intent to set up Rs 1,600 crore mobile components manufacturing facility in Tamil Nadu
ANI | New Delhi | August 1, 2023 9:45 am
Hon Hai Technology Group (or Foxconn) signed a Letter of Intent to set up a new mobile components manufacturing facility at a cost of Rs 1,600 crore in Kanchipuram district in the presence of Tamil Nadu Chief Minister MK Stalin on Monday.
Giving this information, Tamil Nadu Industries Minister TRB Rajaa said in a tweet that the project has the potential to generate 6,000 jobs. The Industries Minister said, “Foxconn’s repeated investments and expansion plans in Tamil Nadu are a testament to the state being the top choice for manufacturing in India for major companies across the world.”
“This is a major achievement for the state. Manufacturers who have seen immense success in Tamil Nadu over the past many years know that by investing more in the state they will only gain more. This also illustrates the trust global investors have in the leadership of Chief Minister of Tamil Nadu MK Stalin,” said Rajaa
“With this proposed investment, and many more to come, Tamil Nadu is poised to not only remain the top electronics exporter in the country, but also significantly increase its electronics exports in the coming years. This will play a critical role in attaining our Honourable Chief Minister Thiru MK Stalin’s ambition of 1 trillion USD economy in Tamil Nadu,” said Rajaa.
To address the rising human-elephant conflicts during the migratory season, the Tamil Nadu Forest Department has installed an Artificial Intelligence (AI)-triggered early warning system to alert the public about elephant movement.
Tamil Nadu Chief Minister MK Stalin on Monday morning held a meeting with the 16th Finance Commission at the Secretariat, welcoming the commission's chairman and its members.
Scotching speculations that he is keeping the option of teaming up with the BJP for the 2026 assembly election, AIADMK general secretary and former Chief Minister Edappadi K Palaniswami (EPS) has made it clear that the party will never enter into an electoral alliance with the saffron party.