Taiwan-based Foxconn Technology Group plans to invest Rs 6,000 crore to set up a 200-acre plant in the special economic zone at Jawaharlal Nehru Port Trust (JNPT) near Mumbai. The move by the world’s largest contract manufacturer could come as a big boost to the NDA government which has been frequently accused by the opposition parties of failing to generate enough jobs in the country.
Foxconn manufactures products for global electronic and information technology companies such as Apple, BlackBerry, Nokia, Kindle, Xbox One etc and is one of the largest employers around the world.
Foxconn communicated to the port authorities that the JNPT project has the potential to generate employment to approximately 40,000 people, reports The Economic Times.
Speaking with the newspaper, Union Shipping and Road Transport Minister Nitin Gadkari responded in the affirmative but refused to divulge any further details.
The special economic zone at JNPT has a total area of 277 hectares (684 acres) of which 77 hectares (190 acres) is reserved for developing infrastructures such as road and common facilities. Many companies have evinced interest in setting up units at the SEZ.
The Shipping minister said the JNPT SEZ is likely to get an investment of about Rs 60,000 crore.
JNPT is the largest port on the western coast of India and handles 40 percent of volume in the country. Favourable factors such ready availability of skilled manpower and logistics facilities could have prompted the company to consider JNPT as the most likely venue for setting up its project.