Tata Group Will Manufacture Apple Products! Invests Rs 5000 Cr For A New Factory In This State
New reports coming in have revealed some big news to us. The TATA group is planning to invest as much as rupees 5000 crores for a facility that will manufacture components for the smartphone giant, Apple.
Read on to find out all the details about this new development right here!
Tata Group To Invest Rs. 5000 Crores; Will Build Manufacturing Plant For Apple?
An investment of Rs. 5000 crores is to be made by the Tata Group for a manufacturing plant in Tamil Nadu. this plant will develop components for iPhone-maker Apple.
CM Edappadi K Palaniswami, in a tweet on Wednesday said, “It is a matter of great pride that the Tata group shall invest Rs 5,000 cr in TN. The Tatas join the ranks of international giants like Foxconn, Dell who have made their base in our State.”
Tata electronics, which is a new entity, has been allotted 500 acres of land by TIDCO (Tamil Nadu Industrial Development Corporation). This land has been allotted for the manufacturing plant that will develop components of the iPhones. The new manufacturing plant will be situated the industrial complex in Hosur, Tamil Nadu.
There is also the possibility that the investment amount might be increased to up to Rs. 8000 crores later. However, this will depend on the level of sourcing.
However, Tata Group has refuted the news of the facility being used for manufacturing Apple’s components. A spokesperson from the company has said, “We are setting up an electronic components plant in Tamil Nadu which is not dedicated to any specific company.”
Plant To Employ 18000 People, 90% Will Be Women
As per reports, a unit of Titan, Titan Engineering and Automation (TEAL) will be taking care of providing expertise for setting up the production facility.
The Bhoomi Pujan of the new facility was conducted on October 27.
Reports have suggested that the new manufacturing facility will employ as many as 18000 employees by October 2021. Of these, 90% will be women.
Tamil Nadu is already home to multiple similar projects of some big names, including Foxconn, Flex, Samsung, Dell, Nokia, Motorola, and BYD.