Taiwan-based technology group Foxconn, also known by its official name Hon Hai Precision Industry Co Ltd, on Monday said it is setting up a manufacturing unit in Hyderabad, Telangana. The facility will come up at Kongara Kalan.
In a letter to Telangana Chief Minister K Chandrasekhar Rao on Monday, Foxconn Chairman Young Liu said the company is setting up a manufacturing facility at Kongara Kalan. He has also sought the support of the Telangana team in operationalising the Kongar Kalan Park as early as possible.
Referring to discussions with KCR during his meeting on March 2, 2023, Liu conveyed his sincere gratitude for the hospitality extended to him and his team during their visit to Hyderabad.
The Foxconn chairman, describing the visit, said that they had a wonderful time during their stay in Hyderabad, Telangana. He was impressed with the hospitality extended by KCR and thanked him for his warm birthday wishes and personalised card.
Young Liu said, “I was indeed inspired by your vision and the efforts towards transformation and development of Telangana. I now have a new friend in India and I look forward to working with you in future."
Concluding the letter, he wrote that he looks forward to meeting KCR soon. Chairman Young Liu extended an invitation to the chief minister of Taiwan as his personal guest mentioning that it would be his honour to host KCR in Taipei.
During the meeting of Liu and KCR on March 2 at Pragathi Bhavan, it was agreed that Foxconn would set up an electronics manufacturing facility in Telangana with employment generation potential for over one lakh people.
KCR emphasised that Telangana considers Taiwan as a natural partner and that the state is glad to be a part of Foxconn’s growth story.
The occasion was utilised by the chief minister and Young Liu to discuss the importance of diversifying electronics manufacturing for a resilient supply chain and the pivotal role to be played by the state governments.
The chief minister said the government has been successful in implementing a new industrial policy and attracted huge investment in Telangana. He added that Foxconn’s huge investment and the opportunity to create more than one lakh jobs like never before in Telangana state is commendable.
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