Taiwan-based Foxconn has signed a letter of intent with the Tamil Nadu government to set up a Rs 1,600 crore new mobile components manufacturing facility in the Kancheepuram district.

The chairman and CEO of Foxconn, MK Stalin, met Young Liu met with Tamil Nadu Chief Minister MK Stalin in the presence of state industries minister T R B Rajaa, chief secretary Shiv Das Meena, additional chief secretary (industries) S Krishnan, MD and CEO of Guidance Tamil Nadu Vishnu Venugopalan, SY Chiang, chief strategy officer (semiconductor) of Foxconn, and top company officials.

Top government officials and Foxconn executives signed a Letter of Intent for a new facility near Foxconn’s existing unit in Kancheepuram district that assembles Apple iPhones.

State industries minister T R B Rajaa said that Foxconn’s continuous investments and expansion plans in Tamil Nadu are a testament to the state being a top choice for manufacturing in India for major companies worldwide.

He added, “Manufacturers who have seen immense success in Tamil Nadu over the past many years know that by investing more in the state they will only gain more. With this proposed investment, and many more to come, Tamil Nadu is poised to not only remain the top electronics exporter in the country, but also significantly increase its electronics exports in the coming years. This will play a critical role in attaining MK Stalin’s ambition of a $1 trillion economy in Tamil Nadu,”

The said investment is set to create 6,000 new job opportunities.