Chief Minister A. Revanth Reddy in discussion with Hon Hai Technology Group (Foxconn) chairman Yang Liu in Delhi on Friday.
| Photo Credit: Arrangement
Taiwanese electronics contract manufacturing major Foxconn has conveyed interest in exploring investment opportunities in Hyderabad, especially the fourth city the government has mooted on the outskirts, to Chief Minister A. Revanth Reddy.
Visiting chairman of Hon Hai Technology Group (Foxconn) Yang Liu, who met Chief Minister and senior officials from the State on Friday in Delhi, said this after Mr. Reddy urged the Apple supplier to invest in the proposed city. He also assured Foxconn support, including incentives and necessary approvals, for setting up factories in the fourth city, the CMO said in a release.
“The Chief Minister highlighted Telangana’s new investment friendly policies and the ambitious Fourth City project, extending an invitation to Foxconn. Mr. Liu expressed admiration for the Fourth City vision and plans to visit Hyderabad soon. Minister for Industries D. Sridhar Babu also shared recent successes in attracting international investments, CMO posted on X (formerly Twitter).
Focus on multifaceted growth
Mr. Reddy spoke of how the focus of the fourth city will be on multifaceted growth across sectors such as education, medicine, sports, electronics, electrical industries as well as locating the Young India Skill Development University. The meeting with the Foxconn leadership comes close on the heels of an official delegation CM led to the U.S. and South Korea earlier this month.
Stating that he was impressed with Mr.Reddy’s vision and pro-industrial policies in the design of the Fourth City, Mr. Liu said Foxconn is eager to explore investment opportunities and he will visit Hyderabad soon. Ahead of that, for exploring the opportunities, a team led by Chief Campus Operations Officer Kathy Yang and India representative V. Lee will be visiting Hyderabad, he said.
Silent on ongoing project
There was, however, no mention in the CMO release or an official update on the status of the $550 million manufacturing project Foxconn had announced in the State. In May 2023, it broke ground for a facility in Kongara Kalan, Rangareddy district that neighbours Hyderabad. This came in the backdrop of Mr. Liu meeting then Chief Minister K. Chandrasekhar Rao in March and days later also writing to the latter that “he was happy with Mr. Rao’s vision and efforts towards transformation and development of Telangana.”
During that visit, he had also appreciated speed of work in Telangana and the progress the State achieved under KCR. “Very impressed.. it is so fast,” he said.
Mr.Liu earlier this week had also met Prime Minister Narendra Modi in Delhi. A post on X by the PM also did not mention Telangana. “Wonderful to meet Mr. Young Liu, chairman of Hon Hai Technology Group (Foxconn). I highlighted the wonderful opportunities India offers in futuristic sectors. We also had excellent discussions on their investment plans in India in States like Karnataka, Tamil Nadu and Andhra Pradesh,” Mr. Modi posted.
All set
Former minister for Industries and IT K. T. Rama Rao had, in response to an X user, recently said the first phase of Foxconn factories spread over 1.6 million sq ft has been completed and ready for inauguration. “I’ve learnt they’ve sought approvals for 2nd phase of their $582 million investment with massive addition of 6.8 million sq ft. After second phase, they should be at a total employment of over 80,000 people approx. There was also an intent to invest an additional $400 million but I am not sure what’s happening there. This MoU was signed under the leadership of Sri KCR garu in 2023.”
First phase
Apple supplier Foxconn’s project in Kongara Kalan, near Hyderabad, that it had announced last year entails a fixed capital investment of ₹4,833 crore. It will be making the investment over five years and expected to generate 25,000 jobs, sources said. The company has thus far invested over ₹800 crore in the project.
The construction is in full swing and Foxconn is set to commence trial production at the facility in October this year. Commercial production is likely to commence by the year end, the source said. The facility is set to roll out hearables first, followed by other products.
