Foxconn may invest $5.7b in Nanjing units

Phone and R&D plants, other facilities may help expand presence in mainland

Foxconn Technology Group, the world's largest electronics contractor, hopes to enhance its intelligent manufacturing capacity and expand its presence in the mainland market by investing 37.5 billion yuan ($5.7 billion) in a smartphone plant, R&D center and other facilities in Nanjing, Jiangsu province, experts said.

Foxconn, also known as Hon Hai Precision Industry Co, has signed a strategic cooperation agreement with Nanjing municipal government, a local government document said.