Foxconn invests $400 million more in Telangana project

Hyderabad, August 13: Taiwan-based electronics giant Foxconn has announced that it will invest an additional $400 million in its Telangana project. The company had earlier announced an investment of $150 million in the project, which is a manufacturing facility for wearables such as Airpods.

The additional investment will be used to expand the project and create more jobs. Foxconn expects to create over 25,000 jobs in Telangana once the project is fully operational.

The announcement was made by Foxconn Chairman Sidney Lu during a meeting with Telangana Chief Minister K Chandrashekhar Rao. Lu said that Foxconn is impressed with the state government’s support for the project and its commitment to creating a business-friendly environment.

Rao welcomed the investment and said that it is a vote of confidence in Telangana’s economic potential. He said that the state government is committed to attracting more investments and creating jobs for the people.

Foxconn’s investment is a major boost for Telangana’s electronics manufacturing sector. The state is already home to several major electronics companies, including Samsung, LG, and Flex. The additional investment by Foxconn is expected to further boost the sector and create more jobs.

The investment is also a sign of the growing confidence of foreign investors in Telangana. The state has been attracting a lot of investment in recent years, thanks to its pro-business policies and its strategic location.

The investment by Foxconn is a major win for Telangana. It will create jobs, boost the economy, and attract more investment. The state government is committed to creating a business-friendly environment and attracting more investments.