Foxconn to invest $5-10 billion in Indonesian plant: Trade Minister

JAKARTA Tue Aug 14, 2012 8:41am EDT

Workers walk out of the entrance to a Foxconn factory in Chengdu, Sichuan province July 4, 2012. REUTERS/Stringer

Workers walk out of the entrance to a Foxconn factory in Chengdu, Sichuan province July 4, 2012.

Credit: Reuters/Stringer

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JAKARTA (Reuters) - Foxconn Technology Group is to set up an operation in Indonesia with plans to invest $5-10 billion over five to 10 years and starting with the assembly and production of 3 million handsets per year, Indonesia's Trade Minister Gita Wirjawan told reporters on Tuesday.

The first investment will start in October and in phase two of the project, starting in July 2013, Foxconn will build a plant and increase output to 10 million units per year.

Foxconn, which is based in Taiwan, is the main supplier for Apple Inc and has been in talks with the Indonesian government for some time.

(Reporting by Yayat Supriatna; Writing by Matthew Bigg; Editing by Greg Mahlich)

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