HyVision System To Fund Rs 40 crore For Camera Inspection Machine Plant

HyVision System Inc, located in South Korea, plans to spend Rs 40 crore in a camera inspection machine unit near Foxconn's facility in Devanahalli, Karnataka. HyVision provides camera module inspection equipment to Foxconn.

The corporation inked a memorandum of understanding with the Karnataka government on Friday to establish the facility near Kempegowda International Airport in Devanahalli, which is located in Bengaluru's rural region.

A Karnataka delegation, led by MB Patil, the state minister for large and medium industries, is visiting South Korea.

"Had a productive meeting with HyVision,” Patil said in a post on microblogging site X on Friday. “They signed an MoU to build a new camera inspection machine plant in India (INR 40 crore investment) near the Foxconn facility. The conversation included plans to initiate manufacturing operations in China and India facilities and the ongoing recruitment of manufacturing personnel for on-site positions.”

Foxconn proposed in July last year to build a Rs 8,800-crore auxiliary factory to its existing facility in Karnataka's Devanahalli Information Technology Investment Region. It also purchased 300 acres in the vicinity.

On March 20, last year, the Karnataka government signed an MoU with Foxconn in which the company committed to investing in a mobile manufacturing unit with the goal of employing 50,000 people in the first phase and creating 100,000 jobs in the state over the next ten years.