Foxconn Interconnect Technology Commences Construction of $500 Million Electronics Manufacturing Facility in Telangana
- ByStartupStory | May 15, 2023
Foxconn Interconnect Technology, a leading electronics major, has laid the foundation for a new state-of-the-art electronics manufacturing facility in Telangana as part of its $500 million investment in the state. The foundation laying ceremony, attended by prominent dignitaries including Telangana Minister for Industries and Commerce, KT Rama Rao, and Foxconn Interconnect Technology Chairman and CEO, Sidney Lu, marks a significant milestone in the Taiwanese firm’s global expansion strategy.
The proposed electronics manufacturing facility, located at Kongara Kalan near Telangana, is a crucial step for Foxconn Interconnect Technology in diversifying its global manufacturing base. The company aims to leverage the strategic advantages of Telangana and establish a robust production hub in the region. The new facility is expected to create approximately 25,000 direct jobs in its first phase, contributing to the local economy and employment generation.
Telangana Minister KT Rama Rao expressed his enthusiasm for the project, stating, “Demonstrating the ‘Telangana Speed,’ I am happy to announce the groundbreaking of the first Foxconn plant in Telangana at Kongar Kalaan today. With an investment of over $500 million, it shall create 25,000 direct jobs in the first phase.” He emphasized the state’s commitment to providing a conducive business environment for global companies and expressed gratitude to Foxconn for their significant investment.
The establishment of the manufacturing facility will not only strengthen Foxconn Interconnect Technology’s presence in Telangana but also allow the company to expand its production capacity. The facility will serve as a key operational hub for the company’s activities in the region, contributing to its growth and enabling it to meet the rising demand for electronic devices.
This strategic investment by Foxconn Interconnect Technology reaffirms the company’s confidence in the potential of Telangana as a hub for electronics manufacturing. Telangana’s proactive industrial policies, robust infrastructure, and skilled workforce have attracted several global players to invest in the state’s thriving ecosystem. The collaboration between Foxconn and Telangana further strengthens the region’s position as a preferred destination for high-tech manufacturing and sets the stage for continued economic growth and development.
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