Foxconn arm denies signing ₹1600 crore deal with Tamil Nadu

A day after Tamil Nadu government announced that it has inked a deal with Foxconn for a setting up new electronic components manufacturing facility, the company has denied the claims.

A subsidiary of tech giant Foxconn said that it had not signed any agreement to invest ₹16 billion or ₹16,000 crore with the state, sources reported on Tuesday.

Foxconn did not immediately respond to a request for comment.

Meanwhile, government sources close to news agency Reuters, the Foxconn Industrial Internet (FII) facility will be built in the Kancheepuram district near the state capital of Chennai.

The government also claimed that the manufacturing facility that would create 6,000 jobs.

Karnataka Ministers MB Patil and Priyanka Kharge held a meeting with iPhone maker Foxconn chairman Young Liu about intended projects for which the company is keen to invest in the state of Karnataka turned out to be fruitful, sources reported.

Patil added that the talks held with the company chairman were fruitful.

iPhone assembler Foxconn has plans to set up another supplementary plant in Karnataka.

As per the proposal, Foxconn Industrial Internet (Fii), a subsidiary of Foxconn, proposes to invest ₹8,800 crore, the release said, adding this would create 14,000 jobs and the land required for the project is about 100 acres.