Tata Group to invest Rs 5,000 cr in plant that will manufacture components for Apple
Tata Group to invest Rs 5,000 cr in plant that will manufacture components for Apple – Tata Group will invest Rs 5,000 crore to make a facility which will manufacture components for iPhone-maker Apple.
500 acres were allocated by TIDCO (Tamil Nadu Industrial Development Corporation) for Tata Electronics, a replacement entity, for setting the factory at the economic complex in Hosur, BusinessLine reported.
Tata Group’s investment within the facility could be hiked later, supported the extent of sourcing, to the maximum amount as Rs 8,000 crore, the report said.
Neither the Tata Group nor the Tamil Nadu government confirmed the event as per the report.
Titan Engineering and Automation (TEAL), a unit of Titan, will provide the expertise for fixing the assembly facility, the report said.
According to the report, the Bhoomi Pujan of the power was persisted on October 27 with18,000 employees in the factory by October 2021, of which 90 percent are going to be women, the report added.
Apple’s contract manufacturer Foxconn already assembles the iPhone 11 at a plant in Sriperumbudur, Tamil Nadu.
The report stated that there was the competition between states for the power, with Tamil Nadu beating Karnataka to bag the project.
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