Foxconn in Talks to Build $9bn Factory in Saudi Arabia

Foxconn Technology Group, the biggest assembler of Apple Inc. iPhones, is in talks with Saudi Arabia about jointly building a $9 billion multipurpose facility that could make microchips, electric-vehicle components and other electronics like displays, The Wall Street Journal reported, citing people familiar with the matter.

The Saudi government is reviewing an offer from the company, formally known as Hon Hai Precision Industry Co. , to build a dual-line foundry for surface-mount technology and wafer fabrication in Neom, a tech-focused city-state the kingdom is developing in the desert, the report said.

Read the full report: The Wall Street Journal

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.