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Kaynes Technology
Semiconductor company Kaynes Technology has said that it is committed to its investment plans in Telangana.
The company’s assurance comes in the background of reports that suggested that it might shift base to Gujarat where it purchased land. The company started construction activity at the Kongara Kalan site in October 2023.
Kaynes CEO Raghu Panicke, who met Telangana Chief Minister A Revanth Reddy here on Monday, said the company’s advanced electronics unit would be inaugurated at Kongara Kalan on August 23.
Asking the Chief Minister to attend the inaugural, he said the new OSAT unit, which the company is setting up, is under consideration by the Indian Semiconductor Mission (ISM). He said the OSAT unit would commence operations soon after it received the ISM’s permission.
The Outsourced Semiconductor Assembly and Testing (OSAT) is being set up with an estimated investment of ₹3,000 crore. The facility is coming up at a site adjacent to Foxconn’s manufacturing facility at Kongara Kalan near here.
Published on August 19, 2024
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