Foxconn cancels investment plan in Indonesia - Kontan

Reuters News
Posted: Aug 31, 2015 11:34 PM

JAKARTA (Reuters) - Taiwan's Foxconn Technology Group, the world's biggest electronic components maker, has cancelled plans to invest in a factory in Indonesia, Kontan daily reported on Tuesday, citing the head of an Indonesian business chamber.

Foxconn, whose flagship listed unit is Hon Hai Precision Industry Co Ltd, said last year it may invest $1 billion in Southeast Asia's biggest economy.

Foxconn had decided not to go ahead with its investment plan because of land issues, Kontan quoted Suryo Bambang Sulisto, chairman of the Indonesian chamber of commerce and industry, as saying.

Sulisto did not respond to a phone call requesting comment, while Foxconn was not immediately available to respond.

(Reporting by Eveline Danubrata; Editing by Stephen Coates)