Foxconn to set up unit in Telangana.

Foxconn, an electronics contract manufacturer based in China and Taiwan, will set up a manufacturing facility in Telangana with a potential to generate one lakh jobs over the next 10 years. Young Liu, Chairman of Hon Hai Technology Group, has met Telangana Chief Minister K Chandrashekar Rao in Hyderabad recently to discuss the company’s plans to set up the unit. Earlier in the day, the Foxconn team visited two sites - Kongar Kalan and Dundigal - to locate the factory. It, however, has not decided on the location yet. There is no clarity on the quantum of investments that it might put in for operations in Telangana.

“The State government has signed an agreement with Foxconn in this regard. The move would help create one lakh jobs in the State,” an official of the Chief Minister’s Office said.

HBL