"Kaynes Technology to Invest ₹2,800 Crore in Semiconductor Facility"

Kaynes Technology has unveiled plans to invest ₹2,800 crore in establishing a cutting-edge semiconductor OSAT (Outsourced Semiconductor Assembly and Test) and compound semiconductor facility near Hyderabad, specifically in Kongara Kalan. This ambitious project, which will be located in close proximity to Foxconn's upcoming facility, is anticipated to generate employment opportunities for approximately 2,000 individuals.

The announcement of this significant investment was made following a meeting between K T Rama Rao, the Minister for IT and Industries in Telangana, and the leadership team of Kaynes Technology, including Ramesh Kannan, Managing Director, and Savitha Ramesh, Chairperson. The meeting, which took place on a Friday, marked a pivotal moment in the company's expansion plans.

With this substantial investment, Kaynes Technology, a venerable electronics contract manufacturing services company with a three-decade history, is poised to diversify its operations into OSAT (Outsourced Semiconductor Assembly and Test) and ATMP (Assembly, Test, Mark, and Pack) services. This strategic move is being executed through its subsidiary, Kaynes Semicon, reflecting the company's forward-looking commitment to advancing within the semiconductor industry.

HBL