Foxconn Boosts Telangana Investment with $400 Million Injection


Fresh Investment of $400 Million by Foxconn to Drive Growth in Telangana

Leading third-party manufacturer Foxconn is set to inject an additional $400 million into its operations in Telangana. The company, known for its phone and peripherals contracts, is expanding its Kongarkalan facility to include the production of AirPods and other digital peripherals.

V Lee, Foxconn’s representative in India, revealed the news on LinkedIn, referencing FIT Hon Teng Limited’s announcement to the Hong Kong bourse.

Telangana’s IT and Industries Minister, KT Rama Rao, confirmed the investment, praising the pace of progress in the region. Earlier, Foxconn had committed $500 million to the Telangana factory project. Which is project to create 25,000 jobs and begin production within the next three quarters.

FIT Hon Teng Limited’s Board Chairman, Lu Sung-Ching, disclosed that the board greenlit a $500 million capital injection for Foxconn Interconnect Technology Singapore Pte Ltd, its subsidiary.

Additionally, FIT Singapore’s proposal for a $400 million capital infusion into Chang Yi Interconnect Technology (India) Private Ltd was approved.

With ongoing investments in Telangana and Karnataka, Foxconn also expressed interest in considering investments in Tamil Nadu.

The technology conglomerate had engaged with Chief Ministers from various states to discuss expansion plans.