Foxconn is set to invest $10 billion into a new plant in India where it will assemble future iPhones for Apple, according to a new report. The company has reportedly set its sights on land in Maharashtra after considering a number of other locations.
The Economic Times reports that Foxconn is interested in a plot of land spanning 1,200 acres, which will be dedicated solely to iPhone manufacturing. As things stand, Foxconn assembles all of Apple’s smartphones in plants located in China.
It’s thought it will take 18 months to make the new plant operational after the deal has been sealed, and it could be just one of ten to twelve plants that Foxconn will open in India by 2020. The news comes a week after Apple gained approval to open its own stores in the country.
Foxconn isn’t entirely new to India. The company once manufactured handsets for Nokia there, but it closed its facilities down in 2014 after losing its partnership with the Finnish firm — which sold its smartphone business to Microsoft a year earlier.
India, like China, has become an increasingly important market for Apple. The company has been pushing to make its iPhones more accessible in the country in recent years, and sales were up 56 percent year-over-year during Q2 2016.
Apple also has plans to open a research and development center in Hyderabad, which will cost around $25 million. The facility is expected to employ around 150 when it opens, but will require 4,500 workers during the construction phase.