Kaynes Technology to invest Rs 2,800 crore in Hyderabad
It will create direct employment for over 2,000 people
Hyderabad: In a landmark moment in India’s semiconductor mission, Telangana is set to host an outsourced semiconductor assembly and test (OSAT) and a compound semiconductor facility by Kaynes Technology. The proposed facility by Kaynes Technology will entail an investment of Rs 2,800 crore and will create direct employment for over 2,000 people.
IT minister K.T. Rama Rao met with Kaynes managing director Ramesh Kannan and chairperson Savitha Ramesh and announced the setting up of the facility at Kongara Kalan, adjacent to the upcoming electronics manufacturing facility of Foxconn.
Kaynes Technology India Limited, a three-decade-old company, is a homegrown player in the electronics contract manufacturing services segment with a global footprint. Kaynes Technology is venturing into OSAT and assembly, testing, marking, and packaging (ATMP) services under its subsidiary Kaynes Semicon.
Kaynes Semicon will support customers worldwide in quad flat no-leads (QFN), small outline transistors (SOT), ball-grid array (BGA), and other packages in the first three years for power devices. Kaynes Semicon is also setting up a research and development centre for package research in collaboration with IIT-Bombay.
Welcoming Kaynes, Rama Rao said, “Telangana is emerging as the destination of choice for the semiconductor industry owing to the supporting infrastructure, proactive governance, rich research and development ecosystem, and availability of a skilled talent pool.”
He said the proposed investment by Kaynes would be a strategic investment and further reinforce Telangana’s position as an ideal destination for hosting the semiconductor ecosystem.
“The speed at which Team Telangana worked is unmatched and unparalleled,” said Ramesh Kannan, chairman and managing director, Kaynes Technology. Savitha Ramesh, chairperson, said that the proposed facility will be a world-class plant with technology and machinery.