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HYDERABAD: Less than three months after it broke ground for its accessories manufacturing facility in Telangana, Taiwanese electronics contract manufacturer Foxconn Group has announced the infusion of another Rs 3,300 crore in its upcoming unit. With this, the group’s total investment in Telangana will be more than Rs 4,550 crore.
The board of Foxconn Interconnect Technology Ltd (FIT) is setting up the Apple accessories plant at Kongara Kalan on Hyderabad’s outskirts, has given its nod for the infusion into Chang Yi Interconnect Technology Pvt Ltd, the subsidiary implementing the project.
“Moving so fast, Telangana! Another US$400M is coming…” Foxconn’s representative in India, V Lee, posted on LinkedIn along with a screenshot of the FIT Hon Teng Ltd filing on the Hong Kong stock exchange.
The increased investment follows Foxconn chairman Young Liu‘s visit to Hyderabad in March, where he inaugurated T-Works and pledged to create 1 lakh jobs in Telangana.
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