Maharashtra Government signed MoU with Foxconn [ Current News (Concise) ]
About Foxconn: Foxconn Technology is exchanged name of Hon Hai Precision Industry Co. Ltd. is a Taiwanese multinational electronics contract manufacturing company. It was founded by Terry Gou on 20 th February 1947.
- It’s headquarter is in Tucheng district, New Taipei, Taiwan.
- It is the world’s largest electronics contractor manufacturer and by revenue it is the third - largest information technology company.
- Maharashtra government has signed a Memorandum of Understanding (MoU) with the Tiawan - based Foxconn to set up its manufacturing facility in the state.
- The MoU was signed in presence of Chief Minister Devendra Fadnavis and Foxconn Chairman Terry Gou in Mumbai, Maharashtra.
- As per agreement Foxconn agreed to invest 5 billion US dollars over the next five years in Maharashtra.
- Same as Maharashtra State will provide the company 1500 acres of land for setting up its plant in the state.
- Foxconn’s facility in Maharashtra will focus on research and development (R&D) as well as manufacturing.
- It will create direct employment of 50, 000 people in the state.
- Published on: August 11, 2015