Corning Inc. to invest ₹1,000 crore in Tamil Nadu facility
By MYBRANDBOOK
Apple supplier Corning, renowned for its Gorilla Glass technology, will reportedly invest ₹1,000 crore to set up a new manufacturing unit in Tamil Nadu. The company will collaborate with its Indian partner, Optiemus Infracom, for the new facility. The construction phase is estimated to last approximately a year. Situated on a 25-acre plot, the facility will employ around 300 individuals and is strategically poised for potential expansion.
It is reported that no specific timeline has been committed for the construction and it is estimated that the construction phase will last approximately a year.
Earlier, the Telangana government had announced that Corning is interested to invest in the state. However, as per source, the company shifted its unit to Tamil Nadu due to the latter's "robust electronics ecosystem and proximity to other Apple suppliers". Apple contract manufacturers like Foxconn, Pegatron, and Tata Electronics have their facilities in Tamil Nadu.
Last week, the decision was finalized and a Memorandum of Understanding (MoU) is expected to be signed during the Global Investor Meet in January.
"While I choose not to delve into the specifics ... I can affirm that Tamil Nadu is diligently crafting an outstanding electronics ecosystem of international standards. Our strategic approach involves ascending the electronics value chain by enticing specialized manufacturers capable of catering to Original Equipment Manufacturers (OEMs). Attracting these niche players forms a crucial component of our targeted initiatives to position Tamil Nadu as a global leader in electronics manufacturing, contributing to India's emergence as a prominent electronics hub," Tamil Nadu Industries Minister TRB Rajaa told a news source.
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