Maharashtra Government signed MoU with Foxconn [ Current News (Concise) ]

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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.

About agreement:

  • 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/Last Modified on: August 11, 2015