Foxconn's Rs. 4,000 crore electronics manufacturing facility in Hyderabad takes off.

Taiwanese contract manufacturer Foxconn will invest Rs. 4,000 crore in a new electronics manufacturing facility in Hyderabad which will lead to creation of 25,000 jobs and will be spread over an area of 200 acres.

The ground-breaking ceremony for Foxconn Interconnect Technology’s facility was conducted at Kongara Kalan in Hyderabad on Monday.

The ground-breaking took place in the presence of Industries and 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 favourable business environment has enabled Foxconn Interconnect Technology to invest and grow in the State,” the statement 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”.

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, it further said.

“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,” the statement said.

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.

ET