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The Apple residences are being built through a public-private partnership, marking the largest private-sector initiative of its kind.
Apple’s contract manufacturers and suppliers, including Foxconn, Tata and Salcomp, are planning homes for their employees
After creating 1,50,000 direct jobs in nearly two and a half years, the Apple ecosystem is focusing on providing residential facilities to factory employees. The company follows this industrial housing model in China and Vietnam, according to an Economic Times report.
Apple’s contract manufacturers and suppliers, including Foxconn, Tata and Salcomp, are planning homes for their employees, the ET report quoted government officials as saying.
These residences are being built through a public-private partnership, marking the largest private-sector initiative of its kind. The initiative aims to construct over 78,000 units, with Tamil Nadu set to receive the highest allocation of 58,000 units.
State Industries Promotion Corporation of Tamil Nadu (SIPCOT) will undertake the construction of the majority of housing units. The Tata Group and SPR India are also involved in constructing homes.
Under the scheme, the central government might contribute 10-15 per cent of the funding, with the remaining portion sourced from state governments and entrepreneurs. Officials anticipate that construction and handover to the private sector will conclude within the current financial year, ending on March 31, 2025.
“The massive employee housing initiative aims to enhance efficiency and provide security, particularly for migrant women employees, the majority of whom fall in the 19-24 age group,” said an official.
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