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The Hindu

National

The Hindu Bureau

Kaynes Technology inks MoU with Karnataka government for ₹3,750-crore investment

Kaynes (Organization) Kaynes Technology Karnataka Mysuru Semiconductor

Kaynes Technology and the Karnataka IT&BT Department on Thursday signed an MoU for setting up a semiconductor assembly and testing facility (OSAT) in Mysuru.

The MoU was signed for an investment of ₹3,750 crore to help generate 3,200 jobs.

Kaynes Circuits India Pvt. Ltd. will spearhead the establishment of a Printed Circuit Board (PCB) manufacturing plant for producing complex multi-layered boards. The MoU with Kaynes will put Karnataka in the forefront of OSAT and PCB, said a press release.

Chief Minister Siddaramiah, Minister for IT/BT and Rural Development and Panchayat Raj Priyank Kharge, Chief Secretary Vandita Sharma, Commissioner for Industrial Development and Director, Department of Industries & Commerce, Gunjan Krishna, and KDEM CEO Sanjeev Gupta were present at the signing of the MoU.

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