Reuters – Taiwan’s Foxconn would invest billions of yuan in a technology-focused industrial park in southern China, a Chinese local government website said.

Taiwan's Foxconn to build tech park in southern Chinese city - 04 MarchThe planned electronics information industry park, located in Nanning, Guangxi province, will begin construction this year and be operational before 2020, the Nanning government’s website said. The park will create 70,000 jobs, it said.

Foxconn, formally known as Hon Hai Precision Industry Co, referred to the Nanning government’s official website when asked about the matter on Friday.

The investment was described as a 100 billion yuan ($15.34 billion) industrial park. No specific investment figure was offered.

The agreement was signed final week with best Chinese officials in the provincial and city governments who were pictured with Foxconn founder Terry Gou, as outlined by information on the website that cited a regional Nanning newspaper.