Kaynes Technology deciding to move its semicon manufacturing project once again

On October 25, 2023 Kaynes Technology held the groundbreaking ceremony for its Semiconductor OSAT facility in Telangana. “We are confident that Telangana will be the right partner in Kaynes’ semiconductor journey. The proposed facility will entail an investment of Rs 2,800 crores and will create direct employment for over 2,000 people in the state,” KTR, Working president of BRS & Former Minister, MLA from Siricilla, Telangana had commented. Kaynes had apparently moved from Mysuru in Karnataka to Telengana.

The company on August 25, 2023 had reported a partnership with the Karnataka Electronics, IT, and BT Departments by signing a Memorandum of Understanding (MoU) aimed at fostering innovation. “This collaboration positions Kaynes Technology as the anchor of the Electronics System Design and Manufacturing (ESDM) Semiconductor ecosystem in Mysuru, and it is expected to elevate Mysuru’s global presence in the tech arena, “said the company press release.

The company clarified that it will not move out of Karnataka. “Our proposed investment in Telangana alongside Karnataka is part of our larger plan to place India in the global semicon map. We will also continue to invest in bringing the latest technologies and ecosystems to Mysuru,” said Col. Sharath Bhat, President, International Business, heading Market and New Initiatives at Kaynes Technology, Mysuru.

It seems that now Kaynes SemiCon is planning to change the location for its chip assembly unit plans in Hyderabad Telangana to Gujarat. The company may convert the Hyderabad facility into an EMS facility. It has applied for central government incentives for the proposed OSAT at Sanand.

Micron and CG Power are also putting up their ATMP here.

CT Bureau