The 196-acre facility in Rangareddy will be referred to as the Foxconn Interconnect Technology - Kongara Kalan Park.
Foxconn groundbreaking ceremony. (Supplied)
The groundbreaking ceremony of a facility for Taiwanese firm Foxconn — arguably the world’s largest electronics manufacturer, which is also called the Hon Hai Technology Group — was performed on Monday,15 May, at Kongar Kalaan in Rangareddy district.
The company manufactures about 70 percent of the iPhones of the world’s largest technology company, Apple.
On 2 February, Foxconn Chairman and CEO Young Liu signed an agreement with the Telangana government for the proposed facility in the presence of Chief Minister K Chandrashekar Rao.
The facility will be referred to as the Foxconn Interconnect Technology – Kongara Kalan Park, or the FIT KK Park.
Telangana IT & MA&UD Minister KT Rama Rao and Foxconn Interconnect Technology Chairman & CEO Sidney Lu attended the ceremony at Kongara Kalan, about 35 km from Hyderabad.
As per Telangana government officials, Foxconn will be investing $500 million in the project and has promised to complete construction in the next nine months.
The officials said that around 25,000 direct jobs would be created with the setting up of the electronic facility.
They added that the deal had the potential to generate direct and indirect employment for over 1 lakh people over 10 years.
The Telangana State Industrial Infrastructure Corporation has reportedly allocated 196 acres of land to Foxconn to set up its facility.
Foxconn groundbreaking ceremony in Rangareddy. (Supplied)
The state government has decided to set up a skill training centre for locals to be recruited.
Education Minister Sabitha Indra Reddy, Ibrahimpatnam constituency MLA Manchireddy Kishan Reddy, and government officials have been asked to make arrangements to that end.
Expected to create world-class products, the new facility is also said to include living quarters and other ancillary services for its employees.
Meanwhile, details are awaited regarding the exact product that will be manufactured at this location, along with other information related to it.
There was confusion in the first week of March over whether Foxconn would prefer Karnataka over Hyderabad as CEO Liu also met Karnataka government officials.
But Foxconn subsequently clarified that it was committed to investing in Telangana.
Foxconn Interconnect Technology Chairman & CEO Sidney Lu, Telangana Minister KTR and others in Rangareddy. (Supplied)
Foxconn said on the occasion, “Thanks to the Telangana government’s unwavering commitment to fostering a favourable business environment that has enabled Foxconn Interconnect Technology to invest and grow in the state.”
It added: “The proposed facility will serve as a hub for Foxconn Interconnect Technology’s operations in Telangana, allowing Foxconn Interconnect Technology to expand its production capacity.”
It also said that the collaboration with the Telangana government would help the state’s growth story as well as Foxconn Interconnect Technology’s growth in India.
Meanwhile, the state government and Foxconn said that they were confident this investment would not only benefit Foxconn Interconnect Technology’s business but also contribute to the overall economic prosperity of the region.
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