- Apr 12, 2001
Apple manufacturer Foxconn is close to signing a deal with the Indian government to open a manufacturing facility intended to make iPhones, reports ET Now (via AppleInsider). The project would cost $10 billion and be built on top of 1,200 acres of land in Maharashtra, India.
While several other Indian states were in consideration for the plant, Foxconn chose Maharashtra, the third largest state in the country. The manufacturer hasn't yet picked a location for the facility in the state yet, but does have a couple options it's considering. Once the deal is done, ET Now reports it would take 18 months before the plant is operational.
Last year, Maharashtra Industries Minister Subhash Desai revealed that Foxconn was scouting locations in the state for a manufacturing facility. Foxconn is reportedly looking to build 10 to 12 facilities in the country by 2020. The Taiwanese manufacturer has been looking to re-enter the Indian market after being forced to shut down production in the country once it lost Nokia as a client in 2014.
India has increasingly become important to Apple's business, with the Cupertino company recently gaining approval to open its own retail stores in the country and announcing plans to open a $25 million facility focused on maps development in Hyderabad.
Article Link: Foxconn Reportedly Close to Deal to Open iPhone Manufacturing Facility in India