(Image source from: Deccanherald.com)
As a major boost for the manufacturing sector in Telangana, third-party phone and peripherals contract manufacturer Foxconn group has agreed to invest an additional amount of $400 M in Telangana. In Kongarakalan on the city outskirts, the manufacturing unit has already started construction in May as per the deal made in March for an investment of $150 M.
The industrial minister of Telangana KTR is the man behind the deal and he hailed the company for their decision of an additional investment of $ 400 M. Now the total investment is $ 550M.
Foxconn Interconnect Technology Ltd (FIT) Group is a Taiwan-based manufacturer and the biggest supplier. In the Kongarakalan facility, it is planning to manufacture Airpods along with some other electronic devices.
KTR expressed what happened through the Twitter app, by sharing the message from V Lee, Foxconn’s India representative, he tweeted, “Our friendship with Foxconn Group remains steadfast, each of us delivering on mutual commitments. With a total investment of $550m (adding the previous $150m), FIT is poised to deliver on its promises in Telangana. This once again proves Telangana Speed.”
Foxconn unit is being developed on 200 acres as per the deal made with the Telangana government. KTR laid the foundation stone on May 15th.
Our friendship with Foxconn Group remains steadfast, each of us delivering on mutual commitments
— KTR (@KTRBRS) August 12, 2023
With total infusement of $550m (adding previous $150m), FIT is poised to deliver on its promises in Telangana
This once again proves Telangana Speed pic.twitter.com/DOssnhmyRo
