Telangana attracts Rs. 2800 crore investment from Kaynes Technology for compound semiconductor unit

Telangana is emerging as a preferred destination for electronics manufacturing units, with Kaynes Technology setting up its OSAT and compound semiconductor manufacturing facility in the state with an investment of Rs. 2800 crore.

The unit, which will generate employment for 2000 people, will come up at Kongara Kalan, which is also housing Foxconn and Corning units.

Industries Minister KT Rama Rao welcomed Kaynes Technology for setting up the facility in Telangana, saying that it was a proud moment for the state to join the league of coveted global destinations that host the semiconductor industry.

The Kaynes unit would be set up in 40 acres and the management was very aggressive in its plans. Going by their speed, the unit would commence its operations in 12 to 18 months, an official associated with the development said.

Implications

The establishment of Kaynes Technology’s compound semiconductor unit in Telangana is a significant development for the state’s electronics manufacturing sector. Compound semiconductors are used in a wide range of applications, including 5G, artificial intelligence, and electric vehicles. The new unit will help to position Telangana as a leading hub for the development and manufacturing of these cutting-edge technologies.

The investment by Kaynes Technology is also a testament to the state’s favorable business environment and its commitment to promoting electronics manufacturing. Telangana has been at the forefront of attracting investments in the electronics sector, and the new unit is expected to create thousands of jobs and generate significant economic activity.