Taiwanese multinational electronics giant FIT-Foxconn Interconnect Technology, Ltd on Monday laid the foundation for a new electronics manufacturing facility in Telangana as part of its USD 500 million investment in the state.
The foundation laying ceremony took place in the presence of Telangana Minister for Industries and Commerce Kalvakuntla Taraka Rama Rao / KTR, Foxconn Interconnect Technology Chairman and CEO Sidney Lu and other dignitaries, a press release from the state government said.
The proposed electronics manufacturing facility at Kongara Kalan near here is a milestone for the Taiwanese firm’s global expansion strategy – diversifying its global manufacturing base, it said.
“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,” Rama Rao tweeted.
