Taiwanese electronics giant, Foxconn will generate employment for over one lakh people by establishing a manufacturing facility in Telangana
Hyderabad: Taiwanese electronics giant, Foxconn will establish a manufacturing facility in Telangana which will create employment generation potential for over 1,00,000 people.
A release from the Chief Minister’s office said Hon Hai Technology Group (Foxconn) and the state government have signed an agreement at Pragati Bhavan where Foxconn Chairman, Young Liu called on Rao.
The ‘historic deal’ has the potential to generate employment for over one lakh people over a period of 10 years, it noted.
The CM said his “government is on a mission to transform Telangana for better and has undertaken several marquee projects to realise the vision of Bangaru Telangana. Foxconn’s unit will help in generating large scale employment to youth and will help attract more such industries to the state.”
Rao emphasized that Telangana considers Taiwan as a natural partner and that the state is glad to be a part of Foxconn’s growth story.
He called Foxconn’s huge investment and the opportunity to create more than one lakh jobs like never before in Telangana ‘commendable.’
The Chief Minister further said steps will be taken to ensure that one lakh jobs are available to the state’s youth and assured Young Liu that his government will provide necessary support to Foxconn for its operations in the state.
The Foxconn Chairman lauded the friendly industrial development eco system created in Telangana and expressed happiness over the progress achieved by the state in the industrial sector, especially in IT and related electronics sectors, in just eight years.
Rao hosted lunch for the Young Liu and his team.
Later in the evening, Liu along with Telangana Minister KT Rama Rao inaugurated T Works a prototyping facility here.
Speaking to reporters, Liu said his company is looking at sites and is currently evaluating the kind of products to be made in Telangana.
The amount of investment depends on the products they plan to make.