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Foxconn scouts for land in state, industrial shed in Navi Mumbai

The terms of the investment and any incentives that are to be given to the company are still under discussion,” the official said.

Written by MANASI PHADKE | Mumbai | September 25, 2015 2:08:19 am
Foxconn, Make in India, foxconn investment, business news, foxconn maharashtra, Hon Hai Precision Industry, smartphones, Foxconn India, Foxconn investment in India, Foxconn Maharashtra plant, technology news, india news, Foxconn has sent a request to the state government to help the firm identify a suitable plot in Navi Mumbai and facilitate the transaction.

Having committed to invest $5 billion in Maharashtra, Foxconn, the world’s largest electronics contract manufacturer, has started the groundwork for what is touted to be one of the biggest Foreign Direct Investment (FDI) projects in the country in recent times.

Besides land for a large manufacturing facility in Western Maharashtra, Foxconn is also scouting for an industrial shed in Navi Mumbai for ancillary operations and is gearing up for the functioning of its corporate office at the World Trade Centre in Cuffe Parade.

The Taiwan-based company has sent a request to the state government to help the firm identify a suitable plot in Navi Mumbai and facilitate the transaction.

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“They have raised a request for a readymade industrial shed on an urgent basis. We don’t know what purpose the company needs it for, but we are addressing their requirement,” said state industries minister Subhash Desai.

A senior official in the state industries department said the company was specifically looking for an industrial shed somewhere in Navi Mumbai of 50,000-60,000 sqm (12-15 acres) for assembly.

“This will mostly be a private plot, but the government will facilitate the process of identification and purchase for them,” he said. The state government has already committed 1,500 acres to the company, which counts smartphone makers such as Apple, BlackBerry, Motorola and Xiaomi as its customers.

“We have identified the land to be allotted at Talegaon and Khopoli and are in the process of closing negotiations for land acquisition at certain places.

The terms of the investment and any incentives that are to be given to the company are still under discussion,” the official said.

Meanwhile, Foxconn, the trade name for Hon Hai Precision Industry Co Ltd, has set up a corporate office on the 32nd floor, occupying almost the entire floor, in the World Trade Centre building, which also houses the principal office of the Maharashtra Industrial Development Corporation (MIDC).

A senior MIDC official said the corporate office of the company would start functioning from October 1. “Besides, the company wants to wait for its plan of disclosure on the Maharashtra plant,” he added.

Foxconn had, last month, signed a memorandum of understanding with the state government for an investment of $5 billion over five years in a new manufacturing facility in the state that the chief minister said could create employment for about 50,000 people.

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