Yuzhan Technology, a subsidiary of Taiwan’s Foxconn Group, has secured a significant warehousing space spanning approximately 550,000 square feet at the ESR Industrial Park in Oragadam, Chennai.
This strategic move underscores Foxconn’s commitment to scaling its operations and optimising supply chain logistics to meet the growing demand for Apple products manufactured in India. The newly leased warehouse facility, one of the largest of its kind in India for Foxconn, marks a pivotal step in enhancing the company’s export capabilities. As one of the three major contract manufacturers and exporters of iPhones from India, Foxconn aims to leverage this expansive facility to streamline its operations and bolster its export activities. Under the terms of the agreement, Yuzhan Technology will pay a monthly rental of Rs 26-28 per square foot for a duration of 10 years, highlighting the long-term commitment to its Indian operations. The investment in this state-of-the-art facility signifies Foxconn’s strategic vision to capitalise on the burgeoning opportunities presented by the Indian market.
The ESR Industrial Park, sprawling across 100 acres with the potential for 2.2 million square feet of leasable space, provides an ideal environment for Foxconn’s expansion endeavours. With a clientele boasting prominent names such as Cubic, Siemens, and New Century Sofa, the park offers a conducive ecosystem for industrial and warehouse operations. Foxconn’s decision to expand its manufacturing and warehousing footprint in India aligns with its broader strategy of doubling its workforce and investment in the country by 2024. By leveraging India’s favourable business environment and tapping into the growing demand for electronics, Foxconn aims to consolidate its position as a key player in the global electronics market. Through the establishment of robust infrastructure and strategic partnerships, Foxconn remains poised to capitalise on the immense potential offered by the Indian market, driving innovation, employment generation, and economic growth in the region.
