Foxconn to invest as much as $10 billion in Indonesian plant
Foxconn (2354) is planning to invest between $5 and $10 billion over the next 5 to 10 years in a production plant in Indonesia, Reuters reported. The plant will initially be responsible for the assembly and production of an estimated three million handsets per year, according to Indonesia’s Trade Minister Gita Wirjawan. The first investment will begin in October of this year and in July 2013, the project will move to phase two, where Foxconn will begin to build a plant of its own and increase production to 10 million units per year. The Taiwanese company previously revealed that it was interested in Indonesia for its high rate of economic growth compared to Malaysia and Vietnam. Foxconn, known best for assembling Apple’s (AAPL) smartphones, tablets and computers, already operates several manufacturing plants in China and Brazil, where the company recently came under fire for its alleged harsh treatment of employees.
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