Foxconn to build $270 million plant in Vietnam

As Reuters reports, Foxconn has been granted a license to construct a new $270 million plant in Vietnam. The Apple supplier is likely to manufacture MacBooks and iPads at its new plant.

To be developed by Fukang Technology, the new plant will be located in the northern Vietnamese province of Bac Giang. The plant is estimated to produce eight million laptops and tablets annually.

Foxconn has invested $1.5 billion in Vietnam and has further plans to raise it to $700 million and recruit 10,000 additional local workers this year. All in all, the company is also looking up for another $1.3 billion investment in Thanh Hoa province in the south of Hanoi.

Foxconn has been one of Apple’s largest manufacturing partners. Due to U.S and China tensions, Apple had asked Foxconn to move some of its iPad and MacBook assembly from China to Vietnam.

Previously, Foxconn planned to move production away from China and expand an iPhone assembly factory in southern India.