Foxconn Mulling Over $7 Billion Plant in US

Tech giant Foxconn has confirmed that it is looking into building a $7-billion plant in the U.S., which comes amid calls from newly seated U.S. President Donald Trump to bring manufacturing jobs back to Americans.

The confirmation came from Foxconn chairman Terry Gou, who said Sunday that his company is considering setting up a display manufacturing plant in the U.S. If it pushes through, the venture could exceed $7 billion and generate about 30,000 to 50,000 jobs.

While such plans had been discussed for the past years, it was not until SoftBank head Masayoshi Son brought it up that Foxconn started reconsidering the venture. The resumption of such plans came prior to Son's meeting with Trump in December.

After the said meeting, Son, who is also a business partner at Foxconn, promised to invest $50 billion in the U.S. Similarly, Foxconn released a statement saying that it was in initial talks to expand its operations in the west.

"While the scope of the potential investment has not been determined, we will announce the details of any plans following the completion of direct discussions between our leadership and the relevant U.S. officials," Foxconn said in a statement.

Foxconn's plans to establish a display plant depend on several factors, including power, land, water and infrastructure, Gou said in a report by Reuters. The company will prioritize Pennsylvania, where it already has existing operations.

Gou also stressed that it would remain an active player in China, dismissing rumors that Foxconn is being pressured by the Chinese government.

Foxconn is the largest manufacturer of contract electronics, with Apple as one of its biggest clients.

"I have discussed with my major clients about going to (the US) and they are also willing to invest, including Apple," Gou was quoted as saying by the AFP.

Currently, Foxconn employs about one million workers in China while its operations span across more than 10 countries.