Hon Hai to invest in India: *10,000* new jobs on their way

sci.econ:255799

Maandag 27 februari 2006, 14:46 - Taiwanese contract manufacturer Hon Hai Precision Industry Co. Ltd. will invest US$110 million to build several manufacturing facilities in Tamil Nadu state in south India, according to Dayanidhi Maran, India's minister for communications and information technology.

Terry Gou, chief executive officer of Hon Hai, will be in Chennai this week to sign a memorandum of understanding (MOU) with the Tamil Nadu state government, the minister told reporters Saturday.

Hon Hai, which uses the brand name Foxconn, will manufacture a number of products, including mobile phones, in India, according to the minister. The facilities set up by the company will create more than 10,000 jobs, he added.

Hon Hai has also proposed developing a special economic zone for electronic hardware and related services, the minister said. The proposed zone would be jointly developed with the State Industries Promotion Corporation of Tamil Nadu (SIPCOT), and Motorola Inc. at Sriperumbudur near Chennai.

Motorola announced last year plans to manufacture mobile phones in India. However, the first Motorola phone made in India was produced by a contract manufacturer.

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