Following the cancellation of the $19.5 billion Vedanta chip project in India, Taiwan-based Foxconn has proposed establishing a Rs 8,800 crore supplementary plant in Karnataka.

M B Patil, Karnataka's large and medium industries minister, announced on Monday that Apple's major iPhone assembler plans to invest Rs 8,800 crore in the plant, which will create 14,000 jobs and span 100 acres.

In this regard, Chief Minister Siddaramaiah chaired a high-level meeting with delegates from Foxconn Industrial Internet (Fii), led by its CEO, Brand Cheng, he said.

As per the proposal, Fii, a subsidiary of Foxconn (formally known as Hon Hai Precision Industry Co. Ltd), will engage in manufacturing screens, and outer coverings apart from making mechanical components needed for phones.

"This would operate as a supplementary plant to the 'end assembly' unit at Devanahalli (ITIR)", the minister said in a statement.

"The state is ready to provide full support, offering the 100 acres of land required to set up the manufacturing unit in the Japanese Industrial Park near (the district headquarters town of) Tumakuru," Patil said in a tweet.

Patil stated on Thursday that the process of transferring land to Apple Inc supplier and Taiwanese electronics manufacturing giant Foxconn for its mobile device manufacturing unit at Devanahalli ITIR is in the "final stages."

"Foxconn is coming up in about 300 acres. The process of handing over land is in final stages, there were some issues, so I have personally held meetings four times in this regard, as we did not want to lose the project. Foxconn, which manufactures Apple phones, is very prestigious for us," the Minister had said.