Hyderabad
Taiwanese multinational electronics giant Foxconn of Hon Hai Technology Group on Thursday signed a memorandum of understanding (MoU) with the Telangana government for setting up of its manufacturing facility in Hyderabad.
A delegation from Foxconn led by its chairman Young Liu called on chief minister K Chandrasekhar Rao at the latter’s camp office Pragati Bhavan in the afternoon, after which the MoU was signed between the representatives of the company and the state government.
According to an official release from the chief minister’s office, Foxconn, the original equipment manufacturer for Apple and several other electronics and mobile companies, will create100,000 direct and indirect employment for youth in Telangana over a period of 10 years.
Welcoming the decision, the chief minister said his government was on a mission to transform Telangana for better and had undertaken several marquee projects to realise the vision of Bangaru Telangana (Golden Telangana).
He said Foxconn’s unit would also help generate large scale employment to youth and attract more such industries to the state. He said Telangana considered Taiwan as a natural partner and that the state was glad to be a part of Foxconn’s growth story.
He assured Young Liu that the state government would provide all kind of support to Foxconn for its operations in Telangana.
The Foxconn chairman said his organization had studied extensively about Telangana and was all praise for the state’s industry-friendly ecosystem. He said he was optimistic about the investments of his company in Telangana.
