Telangana: Apple Supplier Foxconn Officials Call on Revanth Reddy in Hyderabad, CM Assures All Support for Proposed Projects

Hyderabad, December 26: Telangana Chief Minister A. Revanth Reddy on Tuesday assured Taiwanese contract manufacturing giant Foxconn all the support for its manufacturing centre at Kongara Kalan near Hyderabad and also upcoming projects in the state. A delegation led by Foxconn's Hon Hai Precision Industry Company Limited representative, V. Lee, met the Chief Minister at the State Secretariat here.

This was the first meeting by the representatives of the iPhone maker with Revanth Reddy after he assumed office as the Chief Minister early this month following a change of guard in the state. While Apple AirPods facility at Kongar Kalan is expected to begin operation in May 2024, the Telangana government is pursuing with Foxconn Group companies various proposals including Display Fab manufacturing facility, Semiconductor OSAT facility, Semiconductor Fab, Electric Vehicle manufacturing, notebook manufacturing and components manufacturing. Telangana CM Revanth Reddy Promises Rs 5 Lakh Accidental Insurance Policy for Gig Workers, Cab and Auto Drivers

In March, Foxconn chairman Young Liu visited Hyderabad. The company had signed an MoU with the state government assuring to create one lakh jobs by setting up electronics manufacturing unit. In the first phase, the company will provide 25,000 jobs in the next two years. Sidney Lu, CEO, Foxconn Interconnect Technology, a Foxconn Group Company, visited Telangana on May 15 for groundbreaking for Apple AirPods manufacturing facility. The facility is in advanced stage of construction at Kongar Kalan Park in Rangareddy district.

In November, an 18-member delegation visited Hyderabad for evaluation for setting up of the Display Fab Project. Discussions are on for the Display Fab manufacturing facility. For Display Fab, clear titled land is available close to city and international airport at a subsidised cost. There is excellent road access and connectivity for the shortlisted land. There is also availability of power, water at discounted rates. Basic infrastructure will also be provided.

Fifty per cent incentives from the Centre and 25 to 30 per cent incentives from Telangana government have been offered. Similar incentives are being offered by competing states such as Karnataka and Tamil Nadu. The state will take 10 per cent equity. For proposed projects of Foxconn, Telangana is offering quick facilitation and support for all approvals. The state government is offering best in class incentive package. Required amount of land parcel to be provided close to the city. Apple iPhone-Maker Foxconn Under Probe in China Over 'Tax and Land Use'

Industry ready workforce will be trained by Telangana Academy of Skill and Knowledge (TASK) to be ready on day one of plant operations. Power and water will be provided at competitive rates while basic infrastructure will be provided for the allotted land. The state is offering handholding by Telangana State Industrial Infrastructure Corporation (TSIIC) and Electronics Wing, ITE&C Department through a single point of contact for all requirements.

Foxconn is evaluating partners such as HCL for Outsourced Semiconductor Assembly and Test (OSAT) and Telangana is actively pursuing the proposed project. The state hosted HCL team and discussion are on. Discussions are also on for semiconductor fab and electric vehicle manufacturing. Foxconn is currently evaluating partners from India such as MEIL, JSW etc.

Telangana is also in discussi on with Foxconn for a notebook manufacturing facility. The state is keen to host the facility.The state is also keen to host components manufacturing (ecosystem partners of Foxconn for which the company will support the state government).

(The above story first appeared on LatestLY on Dec 26, 2023 05:31 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).