Japan's Sharp may begin construction on $7 bln U.S. plant before June 30: source

Reuters News
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Posted: Feb 07, 2017 10:18 PM

TOKYO (Reuters) - Japanese display maker Sharp Corp may start building a $7 billion plant in the United States before June 30, taking the lead on a project initially considered by its Taiwanese parent Foxconn, a person with knowledge of the plan said.

The decision by Foxconn, formally Hon Hai Precision Industry Co Ltd, to give Sharp the lead on the project comes as Japanese Prime Minister Shinzo Abe prepares to travel to the United States to meet U.S. President Donald Trump.

In a package expected to please Trump, Abe will unveil investments to create as many as 700,000 U.S. jobs, people familiar with the matter told Reuters earlier.

A spokesman for Sharp said no decision on the plant had been made. The person with knowledge of the plan was not authorized to speak to the media and so declined to be identified.

(Reporting by Makiko Yamazaki; Writing by Tim Kelly)