Apple supplier Foxconn returns to India with $1.5B project

News Snapshot:

Apple (NASDAQ:AAPL) supplier Foxconn Technology (OTCPK:FXCOF) is investing $1.5B in an operational construction project in India. The investment was made by subsidiary Hon Hai Technology India Mega Development, which has been registered in Maharashtra state since 2015, CNBC reported, citing a Taiwanese security filing. It comes months after Foxconn (OTCPK:FXCOF), formally known as Hon Hai Precision Industry (OTCPK:HNHPF), pulled out of a $19.5B chipmaking joint venture with Indian conglomerate Vedanta in India. At the time, the company said the rationale for ending the deal was by “mutual agreement.” Foxconn said the money will go to an Indian construction project to...