Foxconn call the deal with Tamil Nadu a ‘rumour’

The sources, in the latest development have disclosed that a unit of tech giant Foxconn said that it had not signed any agreements to spend ₹16 billion ($194.6 million) in Tamil Nadu.

It is to be noted here that the government of Tamil Nadu, said on Monday that it has reached an agreement with Foxconn for the construction of a new factory for electronic components that will employ 6,000 people.

An unnamed state government source told Reuters that the Foxconn Industrial Internet (FII) (601138.SS) facility will be developed in the Kancheepuram neighbourhood close to the state capital of Chennai because the specifics have not yet been made public.

The media sources cited FII as saying, ‘We did not sign any investment agreement,’ and noted that the company had previously published a statement debunking related ‘rumours’ in July also.

However, Foxconn has not given any official reply on this.