Telangana CM, Industries Minister review progress of Foxconn project near Hyderabad

Telangana Chief Minister A.Revanth Reddy accompanied by Industries and IT Minister D.Sridhar Babu visited the upcoming Foxconn project in Kongara Kalan near Hyderabad and reviewed its progress.

Mr. Reddy and the Minister held discussions with the Apple supplier firm representatives at the site and spoke to CEO and Chairman of Foxconn Interconnect Technology Sidney Lu via video conference. The CM inquired about the company’s progress and other aspects, the CMO said in a release.

He assured the company that the State government would provide necessary infrastructure for the project. Mr. Reddy urged the Taiwanese electronics contract manufacturing major to explore investments opportunities in other areas, especially in electric mobility and lithium battery space in the State.

Monday’s review assumes significance as sources had earlier said Foxconn was set to commence trial production at the facility here in October. Commercial production at the plant on which the fixed capital investment was pegged at ₹4,833 crore was likely to commence by the year end, an official had said, adding initially earpods are to be produced at the facility.

Foxconn is expected to make the investment over five years and generate 25,000 jobs, sources said. Until August, it had invested over ₹800 crore in the project, they added.

Chairman of Foxconn Young Liu had met the Chief Minister during his visit to India in August and conveyed Foxconn’s interest in exploring investment opportunities in Hyderabad, including in the fourth city the government has mooted on the outskirts. At that time too, Mr. Reddy had assured support to Foxconn, including incentives and necessary approvals, for setting up factories in the fourth city, the CMO said.

The Foxconn chairman had then assured the Telangana team that he will visiting Hyderabad shortly. In May 2023, Foxconn broke ground for a $550 million facility in Kongara Kalan in Rangareddy district that neighbours Hyderabad. In March of the same year, Mr. Liu had met then Chief Minister K. Chandrasekhar Rao in Hyderabad and followed it up with a letter saying: “he was happy with Mr. Rao’s vision and efforts towards transformation and development of Telangana”.

Former Industries and IT Minister K. T. Rama Rao had, in August this year, posted on social media that the first phase of Foxconn factories spread over 1.6 million sq. ft. has been completed and is ready for inauguration.

Published - October 14, 2024 07:55 pm IST