Foxconn to set up mfg facility in TS

Foxconn chairman Young Liu said that his organisation has studied extensively about Telangana and praised the friendly industrial development eco system created in the State

Hyderabad: Foxconn, Taiwan-based electronics contract manufacturer, will set up a manufacturing facility in Telangana. Young Liu, Chairman of Hon Hai Technology Group (Foxconn) met Telangana Chief Minister K Chandrashekar Rao in Hyderabad on Thursday to discuss on the importance of diversifying electronics manufacturing for a resilient supply chain and the pivotal role to be played by the governments.

In a statement to media, Chief Minister’s Office (CMO) said: “Foxconn will set up electronics manufacturing facility in Telangana with employment generation potential for over one lakh people over a period of 10 years. Foxconn and Government of Telangana signed an agreement at Pragati Bhavan, Hyderabad for the proposed facilities.”

Assuring all support to the company, KCR said: “The State government is on a mission to transform Telangana for better and has undertaken several marquee projects to realise the vision of Bangaru Telangana. Foxconn’s unit will help in generating large scale employment to youth and will help in attracting more such industries to the State.” He emphasised that Telangana considers Taiwan as a natural partner and that the State is glad to be a part of Foxconn’s growth story. On the occasion of this announcement, Minister for Industries, ITE&C and MA&UD KT Rama Rao expressed happiness that the proposed unit has a potential to provide employment to over one lakh people. The Chief Minister said that the government has been successful in implementing a new industrial policy and attracted huge investment in Telangana. Fox Conn's huge investment and the opportunity to create more than one lakh jobs like never before in Telangana State is commendable.