Taiwanese multinational electronics giant Foxconn Interconnect Technology Limited will spend Rs 4,110 crore building a new electronics manufacturing facility in Hyderabad, creating 25,000 jobs in the process, a report by Economic Times (ET) said.
On Monday, a ground-breaking ceremony for Foxconn's facility was held at Kongara Kalan in Hyderabad. State Industries and commerce minister KT Rama Rao and Foxconn Interconnect Technology chairman and CEO Sidney Lu were also in attendance.
Telangana IT secretary Jayesh Ranjan said that the facility spread over 186.7 acres, will manufacture AirPods and electrical equipment.
"Foxconn will manufacture various electrical equipment, connectors, and components for different Original Equipment Manufacturers (OEMs). Although the company hasn't named any specific OEMs, it has said that Telangana will produce parts for at least six of them," Ranjan added.
"They have facilities in Vietnam and China, and they have assured us that the facility in Hyderabad will be equally large and technologically far superior," Ranjan said, adding that connectors will play a significant role in this region's manufacturing of audio products, computers, customer electronics, and precision cables.
The factory's construction will be finished in nine months, and operations will start within a year, said Ranjan.
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A total of 25,000 workers will receive amenities, including housing on campus.
"They will be assigned dormitories on campus, eliminating the need for an unnecessary commute. The proximity to the airport, which is only 15 kilometres away, makes the destination appealing," Ranjan said.
