Kaynes Technology to invest Rs. 2,800 cr in Telangana for semiconductor facility

Telangana is set to host Semiconductor OSAT and Compound Semiconductor facility by Kaynes Technology. The proposed facility by Kaynes Technology will entail an investment of Rs. 2,800 Crores and will create direct employment for over 2,000 people. 

Minister for ITE&C and Industries, Government of Telangana, K T Rama Rao met with Mr. Ramesh Kannan, Managing Director, Kaynes and Mrs. Savitha Ramesh, Chairperson, Kaynes and announced the setting up of the Kaynes’ facility in Telangana. The proposed facility will come up in Kongara Kalan, adjacent to the upcoming electronics manufacturing facility of Foxconn. 

Kaynes Technology India Limited, a 3 decades old company, is a homegrown player in the Electronics Contract Manufacturing Services segment with a global footprint. Kaynes Technology is venturing into OSAT/ ATMP services under its subsidiary Kaynes Semicon. Kaynes Semicon will support customers worldwide in QFN, SOT, TO, BGA, FC BGA kind of packages in the first 3 years for power devices. Kaynes Semicon is also setting up a state-of-the-art R&D center for package research in collaboration with IIT Bombay. 

On the occasion, Minister K T Rama Rao said, “Telangana is committed towards developing a Semiconductor ecosystem in the State and I am delighted to welcome Kaynes’ Semiconductor OSAT & Compound Semiconductor facility to Hyderabad. Telangana is emerging as the destination of choice for the semiconductor industry owing to the supporting infrastructure, proactive governance, rich R&D ecosystem, and availability of a skilled talent pool. The proposed investment by Kaynes will be a strategic investment for Telangana and shall further reinforce Telangana’s position as an ideal destination for hosting the semiconductor ecosystem.” 

Ramesh Kannan, CMD, Kaynes Technology said, “We are very excited to work with the Government of Telangana for our prestigious OSAT/ATMP plant in Hyderabad. The speed at which Team Telangana worked is unmatched and unparalleled.” Savitha Ramesh, Chairperson of the Board, Kaynes Technology, stated that the proposed facility will be a world-class plant with state-of-the-art technology and machinery.

Semiconductors are the foundation for modern computing devices and are playing an increasingly pivotal role in driving the global economy as the world moves towards greater adoption of digital technologies. Telangana has now secured a coveted place amongst the global league of destinations that host the semiconductor ecosystem. 

Principal Secretary for Industries & IT Jayesh Ranjan, Vice-Chairman & Managing Director, TSIIC E. Narsimha Reddy, Director Electronics Sujai Karampuri, and Raghu Panicker, CEO, Kaynes Semicon were also present during the meeting.