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Karnataka approves Foxconn's additional Rs 13,911 crore investment

Manufacturing  -  Dec 13,2023  - 

The Karnataka government's State High Level Clearance Committee (SHLCC) headed by Chief Minister Siddaramaiah has approved Foxconn's additional investment of Rs 13,911 crore in the State.

The previous Basavaraj Bommai-led BJP government had approved the Foxconn's proposal to invest Rs 8,000 crore earlier this year.

The Taiwan based electronics company is set to establish a mobile phone manufacturing unit (iPhone) on a 300-acre plot in the Information Technology Investment Region (ITIR) at Doddaballapur and Devanahalli taluks.

The initial investment was expected to generate close to 50,000 jobs.

The SHLCC approved as many as 14 projects worth Rs 34,115 crore. The government said these projects would create 13,308 jobs.

Of the 14 projects, ten are new projects worth Rs 19,452 crore while the rest are additional investments, Industries Minister MB Patil said. The minister said North Karnataka will get an investment of Rs 9,461 crore.

Among the proposals that are expected to generate employment in North Karnataka are JSW Renew Energy Four Limited, Janki Corp Limited, JSW Steel Limited, and Orient Cement Limited altogether expected to generate close to 4,000 jobs.

 

Company : Foxconn

JSW Renew Energy Four Limited

Janki Corp Limited

JSW Steel Limited

Orient Cement Limited