Foxconn Interconnect Technology To Invest In Telangana, KTR Conducts Groundbreaking Ceremony

In another development of the Telangana Industrial growth, K.T. Rama Rao, the Information Technology Minister of Telangana, conducted the groundbreaking ceremony for Foxconn Interconnect Technology’s new electronics manufacturing facility.

The ceremony was held at Kongara Kalan region in the presence of K.T. Rama Rao and Mr. Sidney Lu. the Foxconn Interconnect Technology Chairman and the Chief Executive Officer (CE),) on the 15th of May, Monday. The company is all set to invest $500 million for setting up the manufacturing unit, providing employment and development to the Telugu State of Telangana.

The proposed electronics manufacturing facility is a promise to continue delivering world class products to the markets, and a milestone for Foxconn Interconnect Technology’s global expansion strategy.

In a joint statement the Telangana Government and Foxconn said, “Foxconn Interconnect Technology expresses a profound gratitude to the Government of Telangana. 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. 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.”

Notably, this is a major step of growth towards industrial development in Telangana.