Kaynes Plans To Build INR 5K Cr Electronics Component Manufacturing Facility In TN

Electronics manufacturer Kaynes Technology India Ltd’s subsidiary Kaynes Circuits India is reportedly planning to set up an electronics manufacturing facility in Tamil Nadu’s Thoothukudi, with an investment of INR 4,995 Cr ($572 Mn).

The facility would engage in the production of 74-layer PCB, flexible PCB, HDI PCB, high-performance laminates, camera module assembly and wire harness assembly, ET reported, citing sources familiar with the matter.

“This is big for Tamil Nadu and will provide fillip to the state’s electronics manufacturing ambitions,” a source was quoted as saying.

Inc42 has reached out to Kaynes for comments on the development. The story will be updated based on the response.

“Like Tamil Nadu brought (Vietnamese electric carmaker) VinFast for the auto sector to Thoothukudi, Kaynes’ new unit is going to be an anchor investment that will help with the establishment of a new electronics manufacturing cluster in the deep South,” the person added.

Reports confirm that this investment, if carried out, would mark the first large-scale investment in PCB manufacturing in the state, aligning with the state government to set up a new electronics manufacturing cluster in Thoothukudi.

The development comes more than a month after the electronics manufacturer incorporated a wholly-owned subsidiary Kaynes Space Technology, to design, develop and manufacture satellites of all classes and mission-specific payloads.

Shares of Kaynes Tech were down 0.84% at INR 6316.95 apiece on the BSE morning trade, as of 09:35 AM, compared to its previous close of INR 6370.40 per share on Friday (August 1).

(The story will be updated soon.)

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