The groundbreaking took place on Monday in the presence of Industries & Commerce Minister KT Rama Rao and Foxconn Interconnect Technology Chairman & CEO Sidney Lu.
Hyderabad, NFAPost: To further fuel industrial development of Telangana, the groundbreaking ceremony for Foxconn Interconnect Technology’s new electronics manufacturing facility was conducted at Kongara Kalan here on Monday.
The groundbreaking took place in the presence of Industries & Commerce Minister KT Rama Rao and Foxconn Interconnect Technology Chairman & CEO Sidney Lu.
The proposed electronics manufacturing facility, according to a joint statement from the State government and Foxconn, is a promise to continue delivering world-class products to the markets, and a milestone for Foxconn Interconnect Technology’s global expansion strategy – diversifying its global manufacturing base.
The Government of Telangana’s unwavering commitment to fostering a favorable business environment has enabled Foxconn Interconnect Technology to invest and grow in the State, it said, adding that the proposed facility would serve as a hub for Foxconn Interconnect Technology’s operations in Telangana, allowing Foxconn Interconnect Technology to expand its production capacity.
As per the statement issued by Taiwan company, Foxconn Interconnect Technology expresses a profound gratitude to the Government of Telangana.
“The partnership and collaboration between Government of Telangana and Foxconn Interconnect Technology in making this project a reality will further embolden Telangana’s growth story as well as Foxconn Interconnect Technology’s growth in India. The Government of Telangana and Foxconn Interconnect Technology are confident that this investment will not only benefit Foxconn Interconnect Technology’s business, but also contribute to the overall economic prosperity of the region,” states the company.
Over the last 9 years, Telangana has emerged as one of the most dynamic and forward-looking States and has cemented its position as the most preferred investment destination for high tech manufacturing in India. The proposed investment from Foxconn Interconnect Technology further validates Government of Telangana’s efforts towards building a conducive ecosystem and enabling infrastructure for supporting the global electronics manufacturing industry, it added.
Already, Foxconn’s parent company Hon Hai Precision Industry has bought a 300 acre land for approximately Rs 300 crore ($37 million) in the Bengaluru rural district of Karnataka. The was revealed by the company in a filings with the London Stock Exchange (LSE). The purchase was done on behalf of its subsidiary Foxconn Hon Hai Technology India Mega Development on May 9.
