Chennai: Taiwanese consumer electronic gadget contract manufacturer Foxconn is expected to invest Rs 300 crore in expansion of their operations here and the government has approved allotment of 49 acres land, said Tamil Nadu Industries Minister M.C.Sampath.

Interacting with reporters on the sidelines of Connect-2017 organised by Confederation of Indian Industry (CII), he said Foxconn has said it would invest around Rs 300 crore and provide jobs for around 5,000 people. According to Sampath, the Taiwanese company has assured employment for a total of 30,000 people over the next three years, which is equal to the number of people employed by the Finnish mobile phone maker Nokia at its factory near here before it closed down its operations.