The Hindu Business Line : Taiwan's Foxconn to set up SEZ with Motorola, TN

Foxconn, a Taiwanese electronics component manufacturer, proposes to set up a special economic zone (SEZ) jointly with the US telecom equipment company, Motorola, and a Tamil Nadu Government agency near Chennai.

It plans to invest a total of about Rs 485 crore ($110 million) in various activities near Chennai, including the SEZ. Foxconn's Chairman and CEO, Mr Terry Gou, has communicated the company's plans to the Communications and IT Minister, Mr Dayanidhi Maran.

The Taiwanese company plans to sign an agreement with the Tamil Nadu Government on March 3, for which it has sought an appointment.

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Foxconn proposes to develop an electronic hardware and related services SEZ jointly with the State Industries Promotion Corporation of Tamil Nadu (SIPCOT), and Motorola at Sriperumbudur, about 50 km west of Chennai.

This facility is likely to be called Sriperumbudur Hi-Tech Innovation Park SEZ.

If SIPCOT decides to participate in the project, it will offer land as its share of the equity to the project, it is reliably learnt.

Foxconn is looking at investing about Rs 485 crore over a five-year period and building several manufacturing facilities in the State to provide vertical integration solution as part of its global electronic manufacturing services.

It plans to manufacture mobile handsets and other components at an existing building on a lease basis and also at the Nokia SEZ (at Sriperumbudur) on a purchase-to-build basis.

Foxconn plans to manufacture printed circuit boards, mobile handsets, PC and network components, system integration and other electronic hardware at the proposed SEZ.

Mr Maran told newspersons that a couple of other IT hardware manufacturers are looking at setting up plants in India. These include a semiconductor company that plans to invest about $3 billion, probably in a fabrication unit.

He said that the Prime Minister, Dr Manmohan Singh, and his Finnish counterpart are scheduled to participate in the inauguration of Nokia's plant (for manufacturing mobile handsets) at Sriperumbudur on March 11.

More Stories on : Infrastructure | Hardware | Telecommunications | Tamil Nadu

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