HYDERABAD: IT and Industries Minister D Sridhar Babu stated that Kaynes Semicon remains committed to establishing its advanced manufacturing facility at Kongarkalan in addition to its new facility in Gujarat.
The minister was responding to former IT Minister and BRS leader KT Rama Rao’s claim that Kaynes move to Gujarat was a huge loss for Telangana.
Responding to Rama Rao’s claim that Kaynes move to Gujarat is a loss for Telangana, Sridhar Babu took to X stating:, “Kaynes Semicon is fully dedicated to its Hyderabad project. The company remains committed to its Kongarkalan facility, with the first phase already inaugurated. The new facility in Gujarat does not diminish their investment in Telangana; rather, it enhances employment opportunities. The Kongarkalan plant is expected to employ 3,000 people.”
Calling claims of Kaynes moving away from Telangana blatant misinformation, Sridhar Babu added, “It is disheartening to see such misinformation being peddled....
KTR took to X stating: “This unit of Kaynes was announced to be set up in Telangana in October, 2023. We had put in tenacious efforts to convince Kaynes to move from Karnataka to Telangana...This was an important investment of over Rs 3,500 crore in semiconductor industry which is now a huge loss to Telangana.”