Adani says in talks with Foxconn for JV, no deal yet

According to sources, company is planning a joint venture worth $5 billion with Foxconn

Conglomerate Adani Enterprises Ltd said on Tuesday it was in discussions with Taiwan's Foxconn, the trade name for Hon Hai Precision Industry Co Ltd, for a joint venture, though no agreement had been signed.

A local television channel reported earlier on Tuesday that the company was planning a joint venture worth $5 billion with Foxconn to build components for companies like Apple Inc and Amazon .

"We are at the discussion stage only and have not signed any agreement which requires disclosure," the company said in a filing.
 

 

Foxconn is the world's largest contract maker of electronic products and counts companies like Apple, BlackBerry, Motorola, Huawei and Xiaomi as clients.