The Tamil Nadu cabinet has approved a significant investment of Rs 13,180 crore by Yuzhan Technology (India), a subsidiary of Foxconn. This investment is anticipated to create 14,000 jobs.

As per a report by the Economic Times, Foxconn has secured 500,000 square feet at the ESR Oragadam Industrial & Logistics Park near Chennai, next to its smartphone assembly unit. The plant is expected to provide components to other contract manufacturers like Pegatron and Tata Electronics, reducing the need for imports from China.

The Rs 13,000 crore investment is set to create 14,000 jobs and marks a significant step in the state’s growing role in global tech manufacturing.

Foxconn, known for assembling Apple’s iPhones, plans to establish a smartphone display module assembly unit. This will be the first such facility in Tamil Nadu catering specifically to Apple, solidifying the state’s position as a key player in Apple’s supply chain.