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Foxconn to invest as much as $10 billion in Indonesian plant

Updated Dec 19th, 2018 8:32PM EST
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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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Dan joins the BGR team as the Android Editor, covering all things relating to Google’s premiere operating system. His work has appeared on Fox News, Fox Business and Yahoo News, among other publications. When he isn’t testing the latest devices or apps, he can be found enjoying the sights and sounds of New York City.