Maharashtra government has signed a MoU with the Tiawan based company Foxconn to set up its manufacturing facility in the state. The Memorandum of Understanding was signed in presence of the Chief Minister Devendra Fadnavis and the Foxconn Chairman Terry Gou in Mumbai, Maharashtra.
As per MoU:
- Foxconn will invest Five billion US dollars over the next 5 years in Maharashtra.
- State will provide the company 1500 acres of land for setting up its plant in state. Foxconn’s facility in Maharashtra will focus on research and development as well as manufacturing.
- It will create direct employment of 50,000 people in the state.
- The company has chosen the Maharashtra as its centre keeping in view it as a financial centre, availability of quality talent and software and hardware integration facilities.
About Foxconn:
- Foxconn world’s largest contract manufacturer of electronics and makes devices for Apple, Xiaomi, Huawei, Black Berry and Motorola.
- Singing MoU with the Foxconn is 2nd achievement of Maharashtra Government led by the CM Fadnavis in month of June 2015.
- Earlier in this month the state government had reached an agreement General Motors which had proposed to invest 6,400 crore rupees in state for expansion of its manufacturing facility in Pune district.
Maharashtra Government inks Memorandum of Understanding with Tiawan based company Foxconn
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