Eager to explore investment opportunities in proposed new city, Foxconn chairman tells Telangana CM 

Foxconn explores investment opportunities in Hyderabad for fourth city project, aiming to generate 25,000 jobs.

Taiwanese electronics contract manufacturing major Foxconn has conveyed interest in exploring investment opportunities in Hyderabad, especially the fourth city the government has mooted on the outskirts, to Chief Minister A. Revanth Reddy.

Visiting chairman of Hon Hai Technology Group (Foxconn) Yang Liu, who met Chief Minister and senior officials from the State on Friday in Delhi, said this after Mr. Reddy urged the Apple supplier to invest in the proposed city. He also assured Foxconn support, including incentives and necessary approvals, for setting up factories in the fourth city, the CMO said in a release.

“The Chief Minister highlighted Telangana’s new investment friendly policies and the ambitious Fourth City project, extending an invitation to Foxconn. Mr. Liu expressed admiration for the Fourth City vision and plans to visit Hyderabad soon. Minister for Industries D. Sridhar Babu also shared recent successes in attracting international investments, CMO posted on X (formerly Twitter).

Mr. Reddy spoke of how the focus of the fourth city will be on multifaceted growth across sectors such as education, medicine, sports, electronics, electrical industries as well as locating the Young India Skill Development University. The meeting with the Foxconn leadership comes close on the heels of an official delegation CM led to the U.S. and South Korea earlier this month.

Stating that he was impressed with Mr.Reddy’s vision and pro-industrial policies in the design of the Fourth City, Mr. Liu said Foxconn is eager to explore investment opportunities and he will visit Hyderabad soon. Ahead of that, for exploring the opportunities, a team led by Chief Campus Operations Officer Kathy Yang and India representative V. Lee will be visiting Hyderabad, he said.

There was, however, no mention in the CMO release or an official update on the status of the $550 million manufacturing project Foxconn had announced in the State. In May 2023, it broke ground for a facility in Kongara Kalan, Rangareddy district that neighbours Hyderabad. This came in the backdrop of Mr. Liu meeting then Chief Minister K. Chandrasekhar Rao in March and days later also writing to the latter that “he was happy with Mr. Rao’s vision and efforts towards transformation and development of Telangana.”

During that visit, he had also appreciated speed of work in Telangana and the progress the State achieved under KCR. “Very impressed.. it is so fast,” he said.