Moving so fast, Telangana. Another $400 million is coming,” V Lee, Foxconn’s representative in India shared on social media.
“Revolutionizing Employment: Foxconn’s $400 Million Investment to Create 25,000 Jobs in Telangana”
Foxconn has taken concrete steps towards establishing its plant in Kongara Kalan, already laying the foundation.
This manufacturing unit holds the promise of generating around 25,000 job opportunities. “Telangana is making remarkable strides – another $400 million infusion is on the horizon,” shared V Lee, Foxconn’s representative in India, through his social media platform.
In a proactive move, Lee also shared an official communication from FIT Hon Teng Limited. Lu Sung-Ching, Chairman of the Board at FIT Hon Teng Limited, revealed that the Board had given its green light to a $500 million capital injection plan for Foxconn Interconnect Technology, Singapore – a wholly-owned subsidiary of the company.
Additionally, the Board has endorsed FIT Singapore’s proposal to infuse $400 million into Chang Yi Interconnect Technology (India) Private Limited.
Industries Minister KT Rama Rao welcomed this development, expressing confidence in FIT’s commitment to the state.
In a tweet, he stated, “Our enduring alliance with Foxconn Group remains unwavering. Both sides are resolute in fulfilling shared obligations.
With a total inflow of $550 million (including the previous $150 million), FIT is all set to honor its commitments in Telangana. This once again underscores Telangana’s agility and effectiveness.”
