<p> New Delhi: Taiwanese electronics manufacturer Foxconn has invited bids to construct a plant in Karnataka with an outlay of Rs 1,200 crore, according to sources.</p>.<p> The project will be executed through Foxconn Hon Hai Technology India Mega Development Pvt.</p>.Foxconn sees 'slightly better' 2024, warns on AI chip shortage.<p> The Karnataka government has approved an investment proposal of around Rs 22,000 crore from Foxconn.</p>.<p>"Foxconn's recent bid for plant construction is for an iPhone factory which it is setting up in Karnataka," a source aware of the development said.</p>.<p> On February 6, Foxconn had said in a regulatory filing that the announcement about inviting bids was on behalf of its subsidiary Foxconn Hon Hai Technology India Mega Development Pvt Ltd for engaging others to build the plant.</p>.<p> The source said the Rs 1,200 crore bid is not for the company's semiconductor joint venture with HCL.</p>.<p> Last month, Foxconn Hon Hai Technology India Mega Development Pvt Ltd had allocated USD 37.2 million or about Rs 308 crore for setting up a semiconductor joint venture with HCL.</p>.<p> An email sent to Foxconn seeking clarification elicited no immediate response.</p>.<p> In July, Foxconn had proposed setting up a mobile manufacturing unit in Karnataka with an initial investment of Rs 8,800 crore.</p>.<p> The Karnataka government further approved an investment of over Rs 13,000 crore from Foxconn in December.</p>.<p> Government sources had earlier said that the investment for the factory to be set up at Devanahalli (Karnataka) will make iPhones and employ around 50,000 people in the first phase.</p>
<p> New Delhi: Taiwanese electronics manufacturer Foxconn has invited bids to construct a plant in Karnataka with an outlay of Rs 1,200 crore, according to sources.</p>.<p> The project will be executed through Foxconn Hon Hai Technology India Mega Development Pvt.</p>.Foxconn sees 'slightly better' 2024, warns on AI chip shortage.<p> The Karnataka government has approved an investment proposal of around Rs 22,000 crore from Foxconn.</p>.<p>"Foxconn's recent bid for plant construction is for an iPhone factory which it is setting up in Karnataka," a source aware of the development said.</p>.<p> On February 6, Foxconn had said in a regulatory filing that the announcement about inviting bids was on behalf of its subsidiary Foxconn Hon Hai Technology India Mega Development Pvt Ltd for engaging others to build the plant.</p>.<p> The source said the Rs 1,200 crore bid is not for the company's semiconductor joint venture with HCL.</p>.<p> Last month, Foxconn Hon Hai Technology India Mega Development Pvt Ltd had allocated USD 37.2 million or about Rs 308 crore for setting up a semiconductor joint venture with HCL.</p>.<p> An email sent to Foxconn seeking clarification elicited no immediate response.</p>.<p> In July, Foxconn had proposed setting up a mobile manufacturing unit in Karnataka with an initial investment of Rs 8,800 crore.</p>.<p> The Karnataka government further approved an investment of over Rs 13,000 crore from Foxconn in December.</p>.<p> Government sources had earlier said that the investment for the factory to be set up at Devanahalli (Karnataka) will make iPhones and employ around 50,000 people in the first phase.</p>