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Foxconn, the world's largest contract electronics maker, is planning to spend billions of dollars over the next three to five years to build a digital city with the latest technologies.

Foxconn, the world's largest contract electronics maker, is planning to spend billions of dollars over the next three to five years to build a digital city with the latest technologies to make it a healthy, clean place to live, the company chairman of said today (4 March).

The first phase of the project will involve the company working with IBM to install its Smart City software at sprawling factory locations in China, said Terry Gou, chairman of Foxconn.

Gou's company already runs several massive factory complexes in China that operate as small cities in their own right, housing tens of thousands of workers in dormitories and feeding them in cafeterias.

IBM Smart City software, meant to make more efficient use of city resources such as water, transportation, surveillance and more, will be used at the factory complexes first, then at a new digital city.

"We want to build smart cities," he said, declining to name the location of the first for fear land prices in the area would immediately rise.

He said a number of energy-efficient technologies will be used in the new city, including solar panels for electricity, low-power LED lighting and more.

The idea is similar to Songdo, which is a digital city under construction in South Korea. The designers are making every effort to make use of the latest technologies to digitize every aspect of life at the city.