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© mariusz-szachowski-dreamstime.com Electronics Production | February 10, 2014

Foxconn signs letter of intent to invest in Jakarta

It's been ongoing for a couple of years now – a potential venture in Indonesia. However, so far, no real progress has been made, until now.

Foxconn, has been trying to set up operations in Indonesia for some time now. However, the plans have either been delayed or pushed forward. But at last it seems as if the venture might actually materialise, as the company has signed a letter of intent to invest in Jakarta. Jakarta Governor, Joko Widodo, has stated that they will provide Foxconn with a 200 hectare plot of land – Initially they'll supply the company with 20 hectares – as the company plans to invest around USD 1 billion over the course of three to five years, according to The Jakarta Post.
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June 25 2019 8:13 pm V13.3.22-2