Foxconn Technology Group says it plans to spend 1 billion reais (US$494 million) to build five new factories in Brazil.
The Taiwanese manufacturer will locate the new plants in an industrial park in Itu, a city near the country's capital, Sao Paolo, Simon Hsing, spokesperson at Foxconn's flagship company Hon Hai Precision Industry, told The Taipei Times on Thursday. The announcement comes 15 months after the group's chairman, Terry Gou, revealed the company had been in talks with the Brazilian government to build factories for tablet computers manufacturing.
The new facilities are scheduled to commence production work in 2014 and expected to reach full capacity by 2016. It will also create 10,000 jobs, said Foxconn, which already employed 6,000 workers in Brazil.
The plants will, among other electronic components including cables, cameras, touch-sensor glass, LED products and printed-circuit boards (PCBs).
Foxconn's latest overseas investment in emerging markets is part the group's five-year program to spur growth, Gou told the daily news site. Currently, it assembles Apple products at a plant in the Brazilian city of Jundiai, and operates four plants in capital Sao Paolo and three plants in other states of Brazil.
This is not the first emerging market Foxconn has invested in. In June, Indonesian ministers revealed Foxconn'swhich .