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© dana rothstein dreamstime.com Electronics Production | August 10, 2015

Foxconn to invest 5 billion dollars in giant factory

The world's largest EMS-provider, Foxconn, this weekend signed a deal with Indian region Maharashtra, for a giant investment in a new factory.
Foxconn will invest some $5 billion dollars over five years on a new electronics manufacturing facility, several newspapers report.

The Huffington Post writes that Foxconn founder Terry Gou did not specify what would be manufactured in the facility but that the company will be looking for local partners in the country.

The facility in India has been seen by many analysts as a way for Foxconn to move away from the rapidly increasing wages in China, where Foxconn is manufacturing a wide range of electronics products for different prominent companies.

According to The Huffington Post, Chief minister Fadnavis said that the new Foxconn plant would generate employment for about 50,000 people.

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