Corning will invest Rs 1 billion to build a Gorilla Glass manufacturing facility in Telangana state, the first such investment in India. 9.34 billion rupees.
The proposed factory by the New York-based Fortune 500 materials science company will produce protective glass for the market leader in the smartphone industry.
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Proposed investment in Rs. Rs 934 crore by Corning and its partners will be a strategic investment and will play a key role in boosting the smartphone manufacturing ecosystem in Telangana and India. The proposed Telangana facility is expected to create employment opportunities for more than 800 people.
This was announced after Telangana ITE&C and Industry Minister KT Rama Rao met New York Corning Senior Vice President John Bayne, Global Operations Head Ravi Kumar and Government Affairs Director Sarah Cartmell.
“Due to the initiatives taken by the government over the past nine years, Telangana is fast becoming an electronics manufacturing hub. More and more electronics manufacturing companies are choosing Hyderabad as their destination,” Rao said in a release.
“Foxconn made a major investment in the state earlier this year and now Corning’s investment in Telangana will drive a new era of smartphone manufacturing in Telangana and India,” he added.