Foxconn is readying a Rs 6,000-crore cheque for India

The Economic Times,  By Gulveen Aulakh, Rajat Arora, ET Bureau, December 14, 2017

Foxconn, the world's largest contract manufacturer of electronic devices such as iPhones, is looking to invest Rs 6,000 crore to set up a 200-acre plant in the special economic zone (SEZ) of the Jawaharlal Nehru Port Trust (JNPT) near Mumbai, said people with knowledge of the matter. 

The Taiwanese company, which is the largest supplier to Apple, has told port authorities that the JNPT project will provide employment to about 40,000 people. 

Shipping and road transport minister Nitin Gadkari confirmed to ET that the company had sent a proposal to the government for setting up the plant. 

"They've reached out to us requesting to provide land at JNPT," Gadkari said, without giving any further details. It isn't clear whether Foxconn will use the unit to manufacture iPhones or other products but given the location, it's likely to be used as an export base. Foxconn Technology Group didn't respond to queries. 

JNPT has a total SEZ area of 277 hectares, out of which 77 hectares is for support infrastructure such as roads and common facilities. Companies have to bid for plots in the remaining 200 hectares to set up their plants. Due to the high demand from companies to set up units, a planned housing project has been scrapped. 

"About 25-30 companies have already approached and the bids for the auction of 17 acres of land at JNPT are already received. I expect this SEZ to give employment to more than 2 lakh people," Gadkari said.

The JNPT SEZ is expected to see a total investment of Rs 60,000 crore, the minister said. A top government official said that the contract manufacturer will have to bid for the land along with others as India doesn't allow the nomination route. 

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