Foxconn to invest $5B-10B in Indonesian plant

Aug 14, 2012, 8:37 AM EDT

JAKARTA, Aug 14 (Reuters) - Foxconn Technology Group is to set up an operation in Indonesia with plans toinvest $5-10 billion over five to 10 years and starting with theassembly and production of 3 million handsets per year,Indonesia's Trade Minister Gita Wirjawan told reporters onTuesday.

The first investment will start in October and in phase twoof the project, starting in July 2013, Foxconn will build aplant and increase output to 10 million units per year.

Foxconn, which is based in Taiwan, is the main supplier forApple Inc and has been in talks with the Indonesiangovernment for some time.