#foxconn #hyderabadrealestate #kongarakalan
Electronics manufacturing major and iPhone maker Apple’s supplier Foxconn broke ground on Monday for a production plant near Hyderabad, on which Telangana IT Minister K.T. Rama Rao said the company will be investing $500 million.
A greenfield project, the facility will create 25,000 direct jobs in its first phase itself, Mr. Rao told the groundbreaking at Kongara Kalan, in neighbouring Ranga Reddy, in the presence of Foxconn subsidiary Foxconn Interconnect Technology (FIT) Chairman and CEO Sidney Lu and others.
Industries Secretary Jayesh Ranjan said electronic equipment and connectors for various original equipment manufacturers (OEMs) will be manufactured at the plant, which will come up on 200 acres. The company planned to start construction of the factory immediately, he said.
For Foxconn, India is shaping into a key production centre. In an investor call last week, Mr. Liu said Hon Hai entered India in 2006, ahead of the competitors and at a larger scale. “India has now reached a population of 1.4 billion people, translating to a large potential market for mid-to-high-end products which our clients are focusing on. Hence, it is necessary for us to continue to expand assembly and component operations in India,” he said.
30 ноя 2023
