Legal hurdles for handing over land to Foxconn cleared, company to start production by next April, says Karnataka Industries Minister
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Legal hurdles to hand over 300 acres to Taiwanese chip-making giant Foxconn have been cleared and the land would be handed over to the company very soon, Karnataka's Large and Medium Industries Minister M.B. Patil said on Friday.
He also announced that the company would start production by next April.
Answering a question by BJP's Doddaballapura MLA Dheeraj Muniraju in the Assembly, Patil said: "A total of 300 acres will be given to the company in the ITIR (IT Investment Region) spread over Devanahalli and Doddaballapur taluks. The company would invest around Rs 8,500 crore to set up a manufacturing plant. The company can commence construction work immediately after the handing over of the land."
The government is facilitating the commissioning of the project which would provide 50,000 jobs, Patil added.
In the last three years, 3 major and medium industries have come up in the Doddaballapura taluk. They have invested about Rs 110 crore and generated nearly 1,450 jobs, the Minister said.
