Foxconn Will Invest $5-10 Billion to Open New Plant in Indonesia

Posted August 15, 2012 at 2:58pm by iClarified | Please help us and submit a translation by clicking here | 3330 views

Foxconn is set to establish operations in Indonesia with plans to invest $5-10 billion of the next 5-10 years, reports Reuters. Indonesia's Trade Minister Gita Wirjawan told reporters that the company will start with the assembly and production of 3 million handsets per year.

The first investment will start in October and in phase two of the project, starting in July 2013, Foxconn will build a plant and increase output to 10 million units per year. Foxconn, which is based in Taiwan, is the main supplier for Apple Inc and has been in talks with the Indonesian government for some time.

The company says it was attracted to Indonesia over Malaysia and Vietnam due to its high rate of economic growth - around 6 per cent a year. Its plant is said to create 1 million jobs.

Read More


Share
Add Comment
Follow iClarified
Duolingo Language Learning App Now Lets You Challenge Friends to a Duel
The Duolingo language learning app has been u...
eBay App Gets Updated Home Page, Larger Photos, Product Reviews, More
The eBay app has been updated with a new Home...
The Weather Channel App Gets New Scroll Down iOS 7 Redesign
The Weather Channel app has been updated with...
Animals Playing On iPads [Video]
Check out this video compilation of animals p...
Hands-On With an Alleged Case for the 4.7-inch iPhone 6 [Video]
A new video goes hands-on with an alleged cas...