Page 12 - Foxconn

Foxconn proposes to set up Rs 8,800 cr manufacturing plant in Karnataka

Foxconn, a major iPhone assembler for Apple, has proposed to set up a Rs 8,800 crore supplementary plant to that of the unit at Devanahalli Information Technology Investment Region (ITIR) in Karnataka, the state's Large and Medium Industries Minister M B Patil said on Monday. The Chief Minister Siddaramaiah chaired a high-level meeting with the delegates of Foxconn Industrial Internet (Fii), headed by its CEO, Brand Cheng, in this regard, he said. As per the proposal, Fii, a subsidiary of Foxconn (formally known as Hon Hai Precision Industry Co. Ltd), has a plan to invest Rs 8,800 Crore. "This would create 14,000 jobs and the land required for the project is about 100 acres," Patil said. The delegates of the Fii would be taken to Tumakuru to examine the available land at Japan Industrial Township near the district headquarters town. The Information Technology Minister Priyank Kharge and Chief Secretary Vandita Sharma were also present in the meeting. "Fii will engage in manufactur

Process of giving land to Foxconn mobile manufacturing unit in final stages

Karnataka Large and Medium Industries Minister M B Patil on Thursday said that the process of handing over land to Apple Inc supplier and Taiwanese electronics manufacturing giant Foxconn, for its mobile devices manufacturing unit near here is in "final stages". "Foxconn is coming up in about 300 acres. The process relating to handing over land is in the final stages. There were some issues, so I have personally held meetings four times in this regard, as we did not want to lose the project. Foxconn, which manufactures Apple phones, is very prestigious for us," Patil said. "Foxconn will invest USD 1 billion, which is Rs 8,400 crore, and will create 50,000 employment in the first phase", the minister said in the Legislative Assembly responding to a question raised by Doddaballapura BJP MLA Dheeraj Muniraju during question hour. The Karnataka government in March, through its state high-level clearance committee (SHLCC), had cleared the investment proposal by Foxconn. The project will

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Foxconn in talks with TSMC, TMH group to make chips in India: Report

Foxconn, with the two companies, is expected to make both advanced as well as legacy chips in India

Foxconn's change of heart on semiconductor factory a warning to India

Even if the government's targets for export growth are met, we will still be some distance behind smaller countries such as Vietnam

Foxconn backing out of semiconductor JV credit negative for Vedanta: Report

Taiwan's Foxconn pulling out of a USD 20 billion semiconductor-making venture with Vedanta Ltd is a "credit negative" for the mining conglomerate's UK parent Vedanta Resources, debt research firm CreditSights said on Thursday. Hon Hai Technology Group, also known as Foxconn, earlier this week pulled out of the chipmaking joint venture with Vedanta and said it intends to apply for incentives under the government's semiconductor production plan. Vedanta Ltd on Wednesday said it has lined up partners and will begin a foray into chip-making this year. The chip-making venture was previously parked in units under the parent firm but last week Vedanta Ltd took over the special-purpose vehicles. "Since the semiconductor venture will be now parked directly under Vedanta Ltd (VEDL), we see a higher probability that a good portion of the project funding will come from VEDL," CreditSights, a part of the Fitch Group, said in a note. Foxconn's exit from the joint venture will also result in the

Foxconn-Vedanta JV split credit negative for UK mining firm: CreditSights

CreditSights had previously expected a "minimal credit impact" on Vedanta Resources based on the old arrangement, as Volcan, Vedanta's holding entity was undertaking the semiconductor investments

Gujarat holds talk with Foxconn for its semiconductor plant: Official

Foxconn this week exited its project with Vedanta, which was also planned for Prime Minister Narendra Modi's home state of Gujarat, citing issues such as slow progress

Vedanta to enter semiconductor market this year after Foxconn split

Foxconn separately intends to apply for incentives under India's semiconductor production plan

Will continue investments in India, invested $35 bn till date: Anil Agarwal

Foxconn withdrew from a $19.5 billion semiconductor joint venture with the metals-to-oil conglomerate earlier this week

Foxconn-Vedanta deal off: What went wrong & what next for India's semiconductor dream

Recently, the highly anticipated partnership between Vedanta and Foxconn to establish a $19.5 billion semiconductor manufacturing plant in Gujarat, India, came to an unexpected halt. >

Memory chip giant SK Hynix considering setting up packaging plant in India

Samsung and SK Hynix are key players in the global sales of dynamic random-access memory (RAM) chips

TMS Ep474: Foxconn-Vedanta split, TRAI on OTT, markets, Indus Water Treaty

Is Foxconn-Vedanta split a setback for India's chip dreams? Why has TRAI changed its stance on OTT regulations? Will sectoral laggards of H1CY23 regain mojo? What is Indus Water Treaty? Answers here

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Will table paper on Maha missing out on Foxconn project in monsoon session

The Maharashtra government will table a white paper on circumstances in which the Vednata-Foxconn project went outside the state in the monsoon session of the legislature, state Industries Minister Uday Samant said on Tuesday. We will present a white paper on reasons behind the semiconductor project of Vedanta-Foxconn went outside Maharashtra. We are working on it and it will be tabled in the monsoon session starting July 17, he said. The minister said he was studying the factors based on which Foxconn announced its decision. "I cannot comment on it without any proper information in my hand, he said. Foxconn on Monday announced withdrawal from its chip-making JV with Indian conglomerate Vedanta.

Foxconn in talks for 2 fab plants as Vedanta joint venture fails

It could bring in a Taiwanese fab firm in a JV

Need a fresh start

Policy for making semiconductors should be reviewed

Troubles mount for Anil Agarwal's Vedanta as Foxconn ditches $19.5 bn JV

London-headquarted Vedanta Resources controls the India unit, Vedanta Ltd. Agarwal took Vedanta Resources private in 2018. As of 2022, his net worth was $2 billion, ranking him 97th among India's rich

Foxconn to apply for India chipmaking incentives after $19.5 bn JV pullout

"Foxconn is committed to India and sees the country successfully establishing a robust semiconductor manufacturing ecosystem," the company said

Foxconn walks out of Vedanta joint venture for chip plant in India

Both firms committed to India's semicon mission: Govt