Taiwanese electronics major Foxconn has invited bids for construction of a chip assembly and testing plant in India.

The plant is proposed to be set up in partnership with HCL Group, according to a regulatory filing.

The company has earmarked Rs 1,200 crore as an initial investment for the project.

In the filing, Foxconn said it is making an announcement on behalf of subsidiary Foxconn Hon Hai Technology India Mega Development Pvt Ltd for engaging others to build the plant on owned land.

Last month, Foxconn Hon Hai Technology India Mega Development Pvt Ltd had allocated USD 37.2 million or about Rs 308 crore for setting up the joint venture.