Foxconn to invest $500 million in Telangana, sets up new manufacturing cluster

Electronics major Foxconn Interconnect Technology on Monday laid the foundation for a new electronics manufacturing facility in Telangana as part of its $500 million investment in the state.

The foundation laying ceremony took place in the presence of Telangana Minister for Industries and Commerce K T Rama Rao, Foxconn Interconnect Technology Chairman and CEO Sidney Lu and other dignitaries, a press release from the state government said.

The proposed electronics manufacturing facility at Kongara Kalan near here is a milestone for the Taiwanese firm’s global expansion strategy – diversifying its global manufacturing base, it said.