A semiconductor contract that was supposed to come to karnataka has gone to the telangana government if the key ministers of the state government are engrossed in politics. Keynes technology has signed an agreement to set up a semiconductor plant worth Rs 2800 crore in Telangana. At a time when key ministers of the state government are busy making political statements and justifications, a huge investment that should have been given to karnataka in a deserving manner is the share of the neighboring telangana government. Mumbai-based Keynes technology had inked a Rs 3,750-crore deal in karnataka last August. It announced the establishment of a semiconductor assembly and testing (OSAT) facility and a printed circuit board (PCB) manufacturing plant in Karnataka. This MoU was made in the presence of chief minister Siddaramaiah and ITBT minister Priyank Kharge. It was said that this unit will be established in Mysore. However, the company has now entered into an MoU to set up the same unit in Telangana. The telangana government has announced that the proposed facility will be set up adjacent to Foxconn's upcoming electronics manufacturing facility at Kongara Kalan.
"The company has entered into an MoU with the telangana government to set up an outsourced semiconductor assembly and testing (OSAT) and integrated semiconductor manufacturing facility in the state," it said in its exchange filing. It is estimated that the proposed investment is expected to create direct employment for over 2,000 people. ITE&C & industry minister KT Rama Rao met Cannes Managing director Ramesh Kunhikannan and Chairperson Savitha Ramesh to announce the establishment of the facility in the state/ “We are very excited to work with telangana government for our prestigious OSAT/ATMP plant in Hyderabad. Kunhikannan said that the speed with which the telangana team worked towards setting up this unit was unparalleled. minister Rama Rao said that this is a matter of pride for Telangana. He said that telangana is now progressing towards becoming the semiconductor hub of the world. Recently major global companies like Foxconn and Corning have invested in Telangana. He wrote in X that telangana has become a preferred destination for electronics manufacturing. The electronics contract manufacturer had entered into a Rs 3,750 crore MoU with the karnataka government to set up a semiconductor assembly and testing facility and a printed circuit board manufacturing unit through the company's step-down subsidiaries.
click and follow Indiaherald WhatsApp channel