Foxconn Reportedly Planning to Invest $1 Billion in Indonesia
Foxconn Electronics, a subsidiary of Hon Hai Precision Industry, mainly known for the assembly of Apple’s iPhones and iPads, is planning to invest $1 billion in the Special Capital Region of Jakarta, Indonesia, over the next three to five years, according to a report by DigiTimes.
Back in November, the Taiwan-based manufacturer said it might invest in a $40 million manufacturing and research facility in Pennsylvania and last month, it was reported that the company is planning to build an advanced display manufacturing plant in the U.S. Now, DigiTimes is claiming that Foxconn Group’s president Terry Gou has signed a letter of intent for the investment with Jakarta governor Joko Widodo a few days earlier.
“Foxconn will soon send a professional team to visit Jakarta for to conduct a feasibility evaluation and hopes to submit an investment proposal to the Indonesia government and the local government of Jakarta in three months, the company said.”
Currently, Hon Hai has manufacturing plants in over 10 countries, including China, Vietnam, Turkey, Mexico, Brazil, and Hungary.