TS CM Revanth assures all support to Foxconn
A delegation led by Foxconn’s representative V Lee meets the Chief Minister on Tuesday
Telangana Chief Minister A Revanth Reddy felicitating Foxconn’s Hon Hai Precision Industry Company Ltd representative, V Lee at the State Secretariat on tuesday
New Govt’s push to industries
- AirPod facility at Kongar Kalan to begin operation in May 2024
- Govt competing for Display Fab mfg facility
- TS offers quick facilitation and support for all approvals
- Offering best in class incentive package and land parcel
Hyderabad: Telangana Chief Minister A Revanth Reddy on Tuesday assured Taiwanese contract manufacturing giant Foxconn all the support for its manufacturing centre at Kongara Kalan near Hyderabad and also upcoming projects in the State.
A delegation led by Foxconn’s Hon Hai Precision Industry Company Limited representative, V Lee, met the Chief Minister at the State Secretariat here. This was the first meeting by the representatives of the iPhone maker with Revanth Reddy after he assumed office as the Chief Minister early this month following a change of guard in the state.
While Apple AirPods facility at Kongar Kalan is expected to begin operation in May 2024, the Telangana government is pursuing with Foxconn Group companies various proposals including Display Fab manufacturing facility, Semiconductor OSAT facility, Semiconductor Fab, Electric Vehicle manufacturing, notebook manufacturing and components manufacturing.
In March, Foxconn chairman Young Liu visited Hyderabad. The company had signed a MoU with the State government assuring to create one lakh jobs by setting up electronics manufacturing unit. In the first phase, the company will provide 25,000 jobs over the next two years.
Sidney Lu, CEO, Foxconn Interconnect Technology, a Foxconn Group Company, visited Telangana on May 15 for groundbreaking for Apple AirPods manufacturing facility. The facility is in advanced stage of construction at Kongar Kalan Park in Rangareddy district. In November, an 18-member delegation visited Hyderabad for evaluation for setting up of the Display Fab Project. Discussions are on for the Display Fab manufacturing facility.
For Display Fab, clear titled land is available close to city and international airport at a subsidised cost. There is excellent road access and connectivity for the shortlisted land. There is also availability of power, water at discounted rates. Basic infrastructure will also be provided.
Fifty per cent incentives from the Centre and 25 to 30 per cent incentives from Telangana government have been offered. Similar incentives are being offered by competing States such as Karnataka and Tamil Nadu. The State will take 10 per cent equity.
