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Foxconn to spend $210 million that would be used exclusively by Apple

Apple to have exclusive production line with Foxconn, Foxconn to invest $210 million in it

| Business, Financial & Legal News | Posted: May 22, 2012 5:25 am

Foxconn are close to getting their cheque book out and writing a fat one for Apple to the tune of $210 million for a new production line that would be used by Apple, exclusively. The new investment would pave the way for the project to start in October in Hua'an City, part of the Jiangsu province in China, reports the China Daily.

 

TweakTown image news/2/4/24219_06_foxconn_to_spend_210_million_that_would_be_used_exclusively_by_apple.jpg

 

The new plant will be of a decent size, measuring 40,000 square meters, and should hire 35,800 new employees. This is great for the local economy. The annual output of the new plant is set to be between $949 million and $1.1 billion, with the import and export value sitting at around $55.8 million.

 

35,800 new employees might sound good, but the Foxconn Zhengzhou Technology Park that is dedicated to making iPhones employs 120,000 people, while the Shenzhen-based plant employs an insane 200,000 people.

NEWS SOURCESTechspot.com, Chinadaily.com.cn

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