Telangana: Foxconn to invest $500 in Hyderabad facility

By
Amruth Venkata
-
foxconn-hyderabad

On Monday, Telangana IT minister KTR announced, the Taiwanese company Foxconn is ready to invest $500 million which is around Rs 4000 crore facility in Hyderabad. This will create 25000 job opportunities in its first phase. He announced the news on his official Twitter handle.

KTR, Telangana IT Minister breaks ground for Foxconn’s manufacturing unit at Kongar Kalaan, Hyderabad. The ceremony took place in the presence of KTR and Foxconn Interconnect Technology Chairman & CEO Sidney Lu.

According to the Businessline, Foxconn, a Taiwanese electronic giant has begun construction at Kongarkalan, near here, where it will manufacture a wide range of FIT goods.

According to a top Foxconn official, the facility will help the business diversify its worldwide manufacturing base. “It will serve as a hub for Foxconn Interconnect Technology’s operations,” he explained. Foxconn, or Hon Hai Precision Industry Co., Ltd, is located in Taipei, Taiwan, and manufactures top-brand electronics.

Foxconn to invest $500 in Hyderabad:

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 Phas, KTR tweeted.

In another tweet, Stable Government, Able Leadership & Speedy Execution have been the Hallmarks of Telangana Govt led by Hon’ble CM KCR Garu Ushering in a New Era in Electronics manufacturing in Telangana, broke ground for the Foxconn Interconnect Technology manufacturing unit along with Chairman & CEO Mr. Sidney Lu My compliments to @jayesh_ranjan and @KarampuriSujaion their excellent effort.

ALSO READ: Hyderabad airport identified as Most punctual airport in the world

RELATED ARTICLESMORE FROM AUTHOR