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Foxconn to set up $210 mn plant in China

US smart phone giant Apple plans to expand its manufacturing facilities in China and its contract manufacturer, Foxconn has announced plans to invest $210 million to build an Apple production line.

Foxconn Technology Group will invest $210 million to build an Apple production line in October in east China's Jiangsu province, local officials said.

The plant housing the production line, to be located in Huai'an city, will produce components for American multinational corporation, Apple Inc, the office of Taiwan Affairs of Huai'an city said.

Foxconn, which is a contract manufacturer for a number of top international electronic brands including Apple, Sony, Dell etc is a Taiwanese company which has its largest network of plants in China employing lakhs of people.

The new plant plans to hire 35,800 employees, state-run Xinhua reported. The annual output value of the plant is expected to reach $949 million to $ 1.1 billion) and the import and export value will be $55.8 million.

Foxconn Technology Group, announced that it will also build a high-tech manufacturing base in Hainan, China's southernmost island province early April.
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