Telangana's Chief Minister A. Revanth Reddy recently reassured Foxconn, the Taiwanese manufacturing giant, of full support for its forthcoming projects in the state, including its manufacturing center at Kongara Kalan near Hyderabad.
A delegation led by V. Lee, a representative of Foxconn's Hon Hai Precision Industry Company Limited, met with the Chief Minister at the State Secretariat, marking the first interaction between Foxconn representatives and Revanth Reddy since he assumed office.
The upcoming Apple AirPods facility in Kongar Kalan, set to commence operations in May 2024, is a key focus for the Telangana government.
Additionally, discussions are ongoing for various proposals with Foxconn Group companies, including plans for Display Fab manufacturing, Semiconductor OSAT facility, Semiconductor Fab, Electric Vehicle manufacturing, notebook manufacturing, and components manufacturing.
Earlier engagements between Foxconn and Telangana's government included an MoU, wherein the company pledged to create one lakh jobs through its electronics manufacturing unit. The initial phase is expected to generate 25,000 jobs within two years.
Advanced stages of construction are underway for the Apple AirPods manufacturing facility at Kongar Kalan Park, with the recent visit of Sidney Lu, CEO of Foxconn Interconnect Technology, marking significant progress.
Foxconn's exploration of projects in Telangana includes discussions regarding the Display Fab Project, with the state offering conducive factors like clear titled land, infrastructure, power, water at discounted rates, and robust connectivity.
Incentives from the Centre and the Telangana government, alongside competitive offers from other states like Karnataka and Tamil Nadu, have been proposed. The state is prepared to offer 10% equity and is proactively facilitating approvals and support for Foxconn's proposed projects.
Telangana is also aligning efforts to collaborate with potential partners like HCL for the Outsourced Semiconductor Assembly and Test (OSAT) project, semiconductor fab, electric vehicle manufacturing, and notebook manufacturing. Discussions are ongoing with Foxconn regarding these potential collaborations, showcasing the state's enthusiasm and readiness to facilitate these endeavors.
Furthermore, Telangana is actively seeking to host components manufacturing, aiming to collaborate with Foxconn's ecosystem partners to further strengthen the manufacturing landscape in the region. Through initiatives like workforce training by the Telangana Academy of Skill and Knowledge (TASK) and dedicated support via TSIIC and Electronics Wing, the state is committed to fostering a conducive environment for Foxconn's endeavors in the region.
(With Agency Inputs)
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