I Phone manufacturer Foxconn Technology close to signing deal with Maharashtra to set up factories near Mumbai

FIRST POST 
JULY 16, 2018

Foxconn Technology Group is likely to sign a deal with the Maharashtra government soon to create a manufacturing hub in the state, according to a media report.

Executives of the Taiwanese contract manufacturer, which rose to global prominence as the main assembler of Apple Inc's iPhone, reportedly met Maharashtra chief minister Devendra Fadnavis and informed his office that the company will set up its plants in the special economic zone (SEZ) of the Jawaharlal Nehru Port Trust (JNPT),  The Economic Times reported.

Following the meeting, the Maharashtra chief minister has reportedly written to union minister for road transport and highways Nitin Gadkari, asking him to allot 200 acres to Foxconn. The Taiwanese company has already bid for 45 acres of land at the JNPT SEZ.

Foxconn aims to invest $5 billion in the manufacturing hub, and create around 50,000 jobs by 2020.

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