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300 acres to be handed over to Foxconn company soon
The legal complications related to the handover of 300 acres of land to the multinational company Foxconn, which manufactures the iPhone, have been resolved.
BENGALURU: The legal complications related to the handover of 300 acres of land to the multinational company Foxconn, which manufactures the iPhone, have been resolved. Heavy and Medium Industries Minister MB Patil told the Assembly on Friday that the site will be given to the company soon.
The minister gave this answer to a question asked by Doddaballapur MLA Dheeraj Muniraju. Minister MB Patil said, The company will be allotted 300 acres of land in the Information Technology Investment Zone (ITIR) belonging to Devanahalli and Doddaballapur hobli. The company will invest around Rs 8,500 crore and set up a manufacturing unit. As soon as the land is handed over, the company can start the construction work. Production is also expected to start next year. He explained that the government has decided to give employment to 50,000 people.
Over 3 large and medium industries have been set up in Doddaballapur taluk in the last three years. He said that they have invested around Rs 110 crore and created more than 1,450 jobs.
Patil opined that the incentives laid down under the Industrial Policy (2020-25), Karnataka Aerospace and Defense Policy (2022-27) and Electric Vehicle and Fuel Storage Policy (2017) are conducive to setting up more industries in this sector.
