Global electronic manufacturing giant Foxconn and Maharashtra Government on 8 August 2015 signed an agreement in Mumbai to invest 5 billion US dollar in the state over the next five year. This investment will be the largest investment by a foreign company in the western province.
The agreement was signed by the state’s industry secretary Apurva Chandra and Foxconn’s chief financial officer David Huang.
The agreement was signed after Foxconn plant was granted 1500 acres of land at Talegaon in Pune district along the Pune-Mumbai expressway. Soon, the company would come up with its plant in the region.
Foxconn manufactures gadgets for world’s leading electronic brands, including Apple, Huawei, Xiaomi, BlackBerry and Motorola.
This was second major coup for Maharashtra in the past fortnight. On 30 July 2015, General Motors announced an investment of 6400 crore rupees in the state.
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What: Signed an Agreement
When: 8 August 2015