Foxconn (2038.HK; 2354.TW) CEO Terry Gou said on Monday that the Taiwanese electronics manufacturer will invest 100 billion yuan in Shanxi province over the next five years to build eight major production bases in Jincheng, Shanxi for projects including precision components, optical communication components, and robotics.

Foxconn and the Jincheng municipal government signed a partnership agreement for the base at the sixth annual Expo Central China in September 2011. The Jincheng government will invest 1.7 billion yuan in the construction of plant facilities, which Foxconn will subsequently purchase, in order to speed plans for the development.

Foxconn plans to employ 210,000 people in Jincheng's Science and Technology Industrial Park over the next three to five years. Once the park is fully operational, Foxconn alone will boost the Jincheng GDP by 60 billion yuan. In 2011, Jincheng's GDP was 89.5 billion yuan.