Foxconn denies ‘fresh’ Rs 15k cr investment

Chennai: Taiwan-based electronics giant Hon Hai Technology Group (Foxconn) on Tuesday denied discussing any fresh investment in Tamil Nadu during its meeting with CM M K on Monday. contradicted claims by the state industries department that it had committed Rs 15,000 crore for investment in the state. In response to TOI’s query, the company said, “No new investments were discussed.” In response to Foxconn’s denial, the Tamil Nadu Industries minister’s office reiterated that discussions regarding the Rs 15,000 crore investment had indeed taken place, adding that “Foxconn may not see it as a ‘new’ investment, but this is the first time we are announcing it”.