Foxconn's Hyd unit to take off today

HYDERABAD: Telangana state will scrpit a new historical chapter in the industrial sector on Monday, with Taiwanese multinational electronics giant Foxconn beginning its works on setting up its manufacturing facility in Kongara Kalan on the city’s outskirts with an investment of nearly Rs 3,500 crore.

IT minister K.T. Rama Rao and Foxconn officials will take part in the ground-breaking ceremony on Monday and formally launch the construction works of the manufacturing plant. The state government has allotted 196 acres to Foxconn in Kongarakalan adjacent to Ranga Reddy Collectorate.

Officials of the industries department, TS Industrial Infrastructure Corporation (TSIIC) managing director E.V.Narasimha Reddy and officials from Foxconn made all the arrangements for the ground-breaking ceremony.

Foxconn chairman Young Liu and his team met Chief Minister K. Chandrashekar Rao and industries minister K.T. Rama Rao at Pragathi Bhavan on March 2. After the meeting, the Chief Minister’s Office (CMO) issued a press release stating that Foxconn will set up an electronic manufacturing facility in Telangana that would generate one lakh jobs in 10 years. It further stated that Foxconn and the state government have signed an agreement in this regard. Later, Young Liu wrote a letter to CM on March 6 stating that, “As discussed with you during our meeting on March 2, Foxconn is committed to setting up a manufacturing facility.”