Foxconn is set to invest $500 million in a new electronics manufacturing facility in Hyderabad which will lead to the generation of 25,000 jobs and will be spread across 200 acres.
The launch ceremony of the facility was conducted at Kongara Kalan in Hyderabad in the presence of KT Rama Rao, Minister for IT, Industries and Commerce and Municipal Administration and Urban Development, and Sidney Lu, chairman of the board and chief executive officer, Foxconn Interconnect Technology.
According to a joint statement released from the state government and Foxconn, the facility will deliver world-class products to the markets and set a milestone for the company’s global expansion strategy. This proposed investment further backs the government of Telangana’s effort towards building a conducive ecosystem and enabling infrastructure for supporting the global electronics manufacturing industry.
