Foxconn, a major electronics contract manufacturer with operations in numerous countries, has announced board approval for an investment of $400 million in Telangana, a southern State where it began ground in May on a $500 million manufacturing site.

According to a social media post by V. Lee, a Foxconn representative in India, the total investment by Foxconn will be $550 million when the preceding $150 million is added. This was shared by the Telangana IT and Industries Minister.

Our friendship with Foxconn Group remains steadfast, each of us delivering on mutual commitments. With total infusement of $550m (adding previous $150m), FIT is poised to deliver on its promises in Telangana. This once again proves Telangana speed,” the Minister posted on X (formerly twitter).

Earlier, Lee had said,“Moving so fast, Telangana! Another US$400M is coming…”

He said this sharing a Hong Kong stock exchange filing by FIT Hon Teng announcing board approval for a $500 million capital injection into subsidiary Foxconn Interconnect Technology Singapore, which in turn will infuse $400 million into Chang Yi Interconnect Technology (India) and the remaining $100 million in Vitenamese entity Fu Wing Interconnect Technology (Nghe An) Company.