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Hon Hai Precision budgets $2B for Russia

MOSCOW, Oct. 7 (UPI) -- Taiwan's Hon Hai Precision Industry Co., an electronics maker, will invest as much as $2 billion to launch production in Russia.

Hon Hai, which owns about 25 percent of the world's motherboard market and is the island nation's largest electronics company, MosNews said Friday.

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The company promised that the scale of its plans will surprise both Russian regulators and competitors.

Hon Hai already invested about $10 billion in plants in China and plans to invest $2 billion each in Russia, India and Brazil.

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