HYDERABAD: Kaynes Technologies, a semiconductor manufacturing company, on Monday announced that it would be inaugurating its advanced electronics unit at Kongara Kalan on August 23, putting to bed speculations that it was planning to shift to Gujarat.
Making it clear that it was committed to continuing its relations with Telangana, Kaynes CEO Raghu Panicker said that the company will partner in the development of the state.
Panicker called on Chief Minister A Revanth Reddy at the Secretariat on Monday and invited him to the inauguration of the OSAT (Outsourced Semiconductor Assembly and Testing) unit. This unit is under consideration of Indian Semiconductor Mission (ISM). Panicker said that the OSAT unit will start operations soon after the ISM’s permission is received.
In March 2024, rumours began swirling that Kaynes planned to move from Telangana to Gujarat. However, there was no official word from the company or from the government till Monday.