Kaynes Technology to invest Rs 3,750 cr in Karnataka chip plant, to create 3,200 jobs

Deal with Kaynes will put Karnataka at the forefront of OSAT and PCB technologies

Kaynes Technology and the Karnataka IT-BT department have entered into an agreement to set up a semiconductor assembly and testing facility (OSAT) in Mysore.

According to a statement by Kaynes Technology, the agreement involves an investment of Rs 3,750 crore to create 3,200 job opportunities.

Kaynes Circuits India Pvt Ltd will lead the setting up of a Printed Circuit Board (PCB) manufacturing facility to produce complex multilayer boards. According to a release, the deal with Kaynes will position Karnataka at the forefront of OSAT and PCB technologies.

“The partnership is poised to not only meet the significant demand but also position Karnataka as a hub for state-of-the-art semiconductor manufacturing and cultivation of a self-sustaining and self-sustaining ecosystem,” the statement said.

The event was attended by Chief Minister Siddaramaiah, IT-BT and Rural Development and Panchayati Raj Minister Priyank Kharge, Chief Secretary Vandita Sharma, Industrial Development Commissioner and Director Industries and Commerce Gunjan Krishna and KDEM CEO Sanjeev Gupta.