"We did not sign any investment agreement," FII was quoted as saying by the Securities Times newspaper, adding the company had issued a statement in July refuting similar "rumours."
On Monday, the Tamil Nadu government had said in a statement that FII has signed an agreement with Tamil Nadu and it plans to invest Rs 1,600 crore ($194.45 million) to build a campus in the Kancheepuram district, near Chennai.
The facility will be separate from the current sprawling campus near Chennai where Foxconn assembles Apple's iPhones and employs more than 35,000 people, a source told Reuters yesterday.
The state government, which did not immediately respond to a request for comment, said on LinkedIn on Monday morning a "big announcement" was expected during the day that would mean Tamil Nadu would retain its "top position as India's Electronics Powerhouse."
Tamil Nadu's Chief Minister M.K.Stalin had yesterday tweeted that investment commitment to establish a mobile component manufacturing facility in Kancheepuram district for Rs. 1600 crore with a potential employment for 6000 persons was signed in his presence.
Foxconn's FII makes electronic devices, cloud service equipment and industrial robots. It was not immediately clear if the new India plant would make components for iPhones or for other companies, or both.Separately, Foxconn may invest up to $500 million to set up a new unit near the Kempe Gowda international airport in Bengaluru to make smartphone accessories, multiple sources aware of the development told ET.
(with inputs from Reuters)
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