(Bloomberg) — Apple Inc. supplier Foxconn Technology Group is talking with the government of Saudi Arabia about constructing a $9 billion factory in the kingdom, the Wall Street Journal reported on Monday.
A proposal for the factory’s construction in Neom — Saudi Arabia’s new tech-driven city that’s being developed in the desert– is currently under the government’s review, according to the report. The facility would produce technology like microchips, electric vehicle components and other electronic components.
Taiwan-based Foxconn, also known as Hon Hai Precision Industry Co., has been seeking new manufacturing sites amid increased U.S.-China tensions. The company is also in talks with the United Arab Emirates about building the factory there, according to the Journal.
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