Banglore 25 Aug : Kaynes Technology and the Karnataka IT-BT department has entered into a contract to set up a semiconductor assembly and testing facility (OSAT) in Mysuru.
According to a statement from Kaynes Technology, the agreement entails an investment of Rs 3,750 crore to create 3,200 employment opportunities.
Kaynes Circuits India Pvt Ltd will spearhead the establishment of a Printed Circuit Board (PCB) manufacturing plant to produce complex multi-layered boards. The deal with Kaynes will position Karnataka at the forefront of OSAT and PCB technologies, according to a release.
“The partnership is poised to not only meet pressing demands but also to position Karnataka as a hub for cutting-edge semiconductor manufacturing and the cultivation of a self-sustaining and self-reliant ecosystem,” the statement said.
Chief Minister Siddaramiah, IT-BT and Rural Development and Panchayati Raj Minister Priyank Kharge, Chief Secretary Vandita Sharma, Commissioner for Industrial Development and Director of the Department of Industries & Commerce Gunjan Krishna, and KDEM CEO Sanjeev Gupta were present at the event.