Biggest Apple iPhone maker and supplier Foxconn is set to invest a whopping $500 million to set up manufacturing facilities in the southern Indian state of Telangana, news agency Reuters reported on Monday. Foxconn’s investment in the state is likely to give way to 25,000 jobs in the first phase, according to Telangana’s IT minister KT Rama Rao announced on Twitter.
“Demonstrating the “Telangana Speed”, I am happy to announce the groundbreaking of first of Foxconn’s plants in Telangana at Kongar Kalaan today With an investment of over $500M it shall create 25,000 direct jobs in first Phase #Telangana #Foxconn,” the minister announced.
Demonstrating the “Telangana Speed”, I am happy to announce the groundbreaking of first of Foxconn’s plants in Telangana at Kongar Kalaan today
With an investment of over $500M it shall create 25,000 direct jobs in first Phase #Telangana #Foxconn pic.twitter.com/PHThJWxsfT
— KTR (@KTRBRS) May 15, 2023
The ground-breaking ceremony for Foxconn Interconnect Technology’s facility was conducted at Kongara Kalan in Hyderabad on Monday, says a report by ET Tech.
According to a press statement: “The Government of Telangana’s unwavering commitment to fostering a favourable business environment has enabled Foxconn Interconnect Technology to invest and grow in the State.”
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“The proposed facility would serve as a hub for Foxconn Interconnect Technology’s operations in Telangana, allowing Foxconn Interconnect Technology to expand its production capacity,” the statement added.
To recall, chairman of Foxconn, Young Liu, in a letter addressed to Telangana CM K Chandrasekhar Rao in March, confirmed the commitment of Foxconn to set up its plant in Kongar Kalan and sought the state’s support.
The Taiwanese electronics major had said it is committed to set up a manufacturing facility in Kongara Kalan in Telangana. Liu and his team met Rao, Telangana Ministers, and other senior officials in Hyderabad last week. “As discussed with you (Telangana CM) during our meeting on March 2, Foxconn is committed to setting up a manufacturing facility in Kongara Kalan and I seek the support of your team in operationlising the Kongara Kalan park as early as possible,” Liu said in the letter.