KEY POINTS
  • Apple supplier Foxconn said it plans to invest more than $1.5 billion in India for an unspecified building project to fulfill its "operational needs."
  • Foxconn already has several projects in the works in India, including factories in Karnataka and Telangana states.
  • Foxconn is a major Apple supplier and plays a critical role in iPhone assembly.

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A factory at the mobile phone plant of Rising Stars Mobile India, a unit of Foxconn in Tamil Nadu, India, on July 12, 2019.
Bloomberg | Bloomberg | Getty Images

Foxconn Technology will invest more than $1.5 billion in an Indian construction project to fulfill the Apple supplier's "operational needs," the company announced in Taiwanese security filings Monday.

The $1.541 billion investment was made through a Foxconn subsidiary, Hon Hai Technology India Mega Development, which has been registered in India's Maharashtra state since 2015, according to one of the securities filings and Indian corporate records. A concurrent filing said the same subsidiary would budget the equivalent amount in Indian rupees for a construction project to fulfill "operational needs."

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