Foxconn lays stone for $500-mn plant in TS

Hyderabad: Taiwan-based electronics major Foxconn Interconnect Technology, which makes Apple iPhone and other smartphones, on Monday laid the foundation stone for its new electronics manufacturing facility here at Kongara Kalan as part of its $500-million investment in Telangana State.

Telangana Minister for Industries and Commerce KT Rama Rao, Foxconn Interconnect Technology Chairman and CEO Sidney Lu and other dignitaries took part in the foundation laying ceremony.

The proposed electronics manufacturing facility is coming up at Kongara Kalan in Ranga Reddy district. It’s a major part of the Taiwanese firm’s global expansion strategy – diversifying its global manufacturing base.

“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 $500mn it shall create 25,000 direct jobs in first Phase,” Rama Rao tweeted. Foxconn will eventually create 35,000 to 40,000 jobs. Overall, nearly 1 lakh people will get direct and indirect jobs, he added.

Speaking on the occasion, KTR said: “There is a need to work as per the confidence that was placed on Telangana by the Foxconn chairman. I would like to thank Foxconn company for investing $500 million in Telangana.”

Foxconn management promised me that the plant will be ready in next nine months, the Minister added. The proposed facility will serve as a hub for Foxconn Interconnect Technology's operations in Telangana allowing the firm to expand its production capacity, according to a release.

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 $500mn, it shall create 25,000 direct jobs in first phase

-- KT Rama Rao