Karnataka Govt Inks MoU With Kaynes To Boost Electronic Manufacturing In State

Bengaluru, Aug 25 (KNN) The Karnataka government has entered into an agreement with the Kaynes Technology India to promote electronics manufacturing in state.

This collaboration positions Kaynes Technology as the anchor of the Electronics System Design and Manufacturing (ESDM) Semiconductor ecosystem in Mysuru.

The agreement is aimed at elevating Mysuru’s global presence in the tech arena. The MoU is set to propel Karnataka to the forefront of OSAT and PCB manufacturing, with a substantial investment of Rs 3,750 crore, creating approximately 3,200 job opportunities. 

Under this agreement, Kaynes Semicon Private Limited will lead the establishment of a Semiconductor Assembly and testing (OSAT) facility. At the same time, Kaynes Circuits India Private Limited will spearhead the setup of a Printed Circuit Board (PCB) manufacturing plant specialising in complex multi-layered boards. 

The company’s shares were up by 7.75 per cent after the company reported a partnership with the Karnataka Electronics, IT, and BT Departments, reported The Hindu Businessline.  (KNN Bureau)