Foxconn plans $773 mln manufacturing facility in Guangxi Zhuang - report
Beijing. June 20. INTERFAX-CHINA - Foxconn Technology Group (Foxconn), a Taiwanese electronics manufacturer, has agreed to invest RMB 5 billion ($773 million) to build a manufacturing facility in Nanning City, capital of the Guangxi Zhuang Autonomous Region, state media reported June 19.
The facility will be based in Jiangnan Industry Park and focus on manufacturing smartphones, global positioning system (GPS) navigators and routers, Xinhua news agency reported.
The first phase of the facility will cover 0.53 square kilometres, and is expected to generate annual revenue of RMB 30 billion ($4.60 billion), Guangxi Daily reported June 19.
Foxconn began operations at a manufacturing center in Nanning High Technology District on May 30, the report said. Foxconn invested RMB 2.50 billion ($386 million) in the center, which is expected to generate annual output of RMB 5 billion ($773 million).
-RL