Foxconn plans to invest in Nanjing
Foxconn Technology Group is confirmed to have plans to invest over 37.5 billion yuan ($5.74 billion) to build a smartphone plant, a research and development center and other facilities in Nanjing, capital of Jiangsu province, a local government document showed. The investment is a strategic partnership deal Foxconn, also known as Hon Hai Precision Industry Co, inked with the Nanjing municipal government on Tuesday. According to the document, Foxconn has also inked agreements of intent to build a research and development center in the Yuhuatai district of Nanjing. It is also likely to pour more money to build a liquid crystal display TV plant and other facilities in the city.