Hyderabad: Telangana Minister for Industries and Commerce KT Rama Rao on Monday laid the foundation for the Foxconn industry at Kongara Kalan in the Rangareddy district of Telangana. Foxconn Interconnect Technology Chairman and CEO Sidney Lu and other dignitaries were also present at the event, 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 the 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 the first Phase," Rama Rao tweeted.
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Speaking on the occasion, "There is a need to work as per the confidence that was placed on Telangana by the Foxconn chairman. "I would like to thank Foxconn Company for investing USD 500 million in Telangana." The minister announced that special training centres for the youth will be set up in this company, which is being set up on 196 acres.
KTR said that he will stand by Foxconn in all ways. He hoped that the construction of the company would be completed within a year. The Minister, who performed the ground-breaking ceremony for the establishment of Foxconn Parish in Kongarakalan, Ranga Reddy district, said that Telangana is second in the IT sector in the country. Meanwhile, Foxconn Chairman Yang Liu said that the Foxconn Company is being established with an investment of Rs 1,655 crore. (With Agency Inputs)
