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Kaynes Buys Land In Gujarat To Build Chip Plant, Eyes Investment Of INR 5,000 Cr
Inc42
·
11m ago
Medial
Electronics manufacturer Kaynes Technology has purchased land in Gujarat's Sanand to establish an outsourced semiconductor assembly and test (OSAT) unit. The company plans to invest INR 5,000 crore ($596 million) in its chip project. Kaynes will continue to operate its Telangana unit, maintaining a couple of chip assembly lines there, while the advanced chip assembly and test project will operate from Gujarat.
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Microsoft Buys Another 16.4 Acre Plot In Pune For INR 435 Cr
Inc42
·
10m ago
Medial
Microsoft has acquired a 16.4 acre plot of land in Pune, India for a total investment of INR 27.18 crore. This is part of their recent acquisitions in Pune, which now totals over 30 acres of land with a total investment of INR 973 crore. The previous acquisition included a 13.6 acre land parcel for INR 520 crore.
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Ahmedabad-based developer buys land parcel in GIFT City for Rs 342 cr for residential project
Money Control
·
1y ago
Medial
Ahmedabad-based developer, Nila Spaces Limited, has acquired a 5,550 square meter land parcel in Gujarat International Finance Tec-City (GIFT City) for INR 342 crore. The company plans to develop a residential project on the site, with a potential of 5.22 lakh square feet. The investment in the project is estimated to be around INR 750 crore, and the company expects the revenue from the project to exceed INR 1,000 crore. Nila Spaces emerged as the top bidder in the auction, outperforming 10 other participants. GIFT City is a prominent hub for financial services and technology industries.
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CG Power ropes in Jacobs to build its Sanand chip plant
Economic Times
·
11m ago
Medial
CG Power has partnered with Jacobs, a global facilities management firm, to construct its upcoming chip assembly plant in Gujarat, India. Jacobs, known for its expertise in building fabs for top chipmakers like Intel and TSMC, could help CG Power start production quickly. The estimated investment for the plant is Rs 7,600 crore and will be funded through subsidies, equity contribution, and potential bank borrowings. The facility will manufacture various chip products and have a capacity of producing 1.5 crore units per day. The project is expected to generate employment for around 5,000 people.
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India set to be a big semicon player in 10 years: union minister Amit Shah
Economic Times
·
10m ago
Medial
India's home minister, Amit Shah, predicts that India will emerge as a significant player in the semiconductor market within the next decade. He highlighted the upcoming semiconductor chip manufacturing plant in Sanand, Gujarat, being built by US chip maker Micron. The plant is part of India's Semiconductor Mission, aiming to develop a domestic chip industry. The government has also approved the establishment of a unit by Kaynes Semiconductor. Shah also mentioned India's Digital India initiatives and the steps taken to support startups and innovation, including the abolition of the angel tax. Additionally, he highlighted the country's efforts in the space sector and plans to train cyber commandos.
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Kaynes to keep away from fabs for now, focus on chip facility, says CEO
Livemint
·
10m ago
Medial
Kaynes Semicon, a subsidiary of Kaynes Technology, is focusing on completing its chip assembly and test facility in Gujarat, rather than venturing into semiconductor fabrication. The company plans to start with chip manufacturing through outsourced assembly and test (OSAT) facilities and then gradually scale up. Once fully operational, the facility is expected to produce 6 million chips per day within the next two years. Kaynes' stock has risen by 12% since announcing the OSAT proposal. The company is also benefiting from India's production-linked incentives (PLI) scheme for IT hardware.
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Cabinet Approves Kaynes’ INR 3,300 Cr Investment To Set Up A Semiconductor Unit In Gujarat
Inc42
·
10m ago
Medial
Kaynes Semicon is planning to set up a chip manufacturing unit in Sanand, Gujarat, with a production capacity of 60 lakh chips per day. The chips produced in this unit will be used in various sectors like automotive, EVs, consumer electronics, telecom, and mobile phones. The Indian government has been actively encouraging semiconductor investments, and this project is part of their efforts to develop the semiconductor ecosystem in the country.
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Cabinet greenlights Tata Group's chip fab unit in Gujarat; first semicon plant in northeast approved
Economic Times
·
1y ago
Medial
The Indian government has approved the construction of three semiconductor chip fabrication units in Gujarat and Assam, with an estimated investment of INR 1.26 lakh crore (approximately $17 billion). Tata Electronics will set up a semiconductor fab in partnership with Powerchip Semiconductor Manufacturing Corp (PSMC) in Gujarat, attracting an investment of INR 91,000 crore. Tata Semiconductor Assembly and Test will establish a unit in Assam with an investment of INR 27,000 crore. Additionally, CG Power will collaborate with Renesas Electronics and Stars Microelectronics to set up a semiconductor unit in Gujarat with an investment of INR 7,600 crore.
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Union Cabinet approves Kaynes Semicon's Gujarat chip unit proposal
Economic Times
·
10m ago
Medial
The Union Cabinet has approved Kaynes Semicon Pvt Ltd's proposal to establish a semiconductor unit in Sanand, Gujarat. Initially planning to set up in Telangana, Kaynes will now invest ₹3,300 crore in Gujarat. The unit will produce chips for industrial, automotive, consumer electronics, telecom, mobile phones, and electric vehicles. This move is part of a larger effort to develop a strong semiconductor ecosystem, with three other units already approved for construction in Gujarat and Assam, amounting to an investment of approximately ₹1.5 lakh crore and a combined capacity of seven crore chips per day.
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India Reviews $21 Bn Proposals To Fast Track Chip Manufacturing Market
Inc42
·
1y ago
Medial
Tower Semiconductor from Israel and Tata Group from India have proposed large-scale chip manufacturing projects in the state of Gujarat, with a combined investment of $17 billion. Tower Semiconductor plans to scale up its plant to eventually produce 80,000 silicon wafers per month, while Tata Group intends to construct a chip fabrication unit and a chip-packaging plant. These proposals are part of the Indian government's efforts to boost chip manufacturing within the country, which is projected to reach a market value of $55 billion by 2026.
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Kaynes Semicon, 7 Rays announce collaboration across chip value chain
Economic Times
·
7m ago
Medial
Kaynes Semicon and 7 Rays Semiconductors have joined forces to collaborate in the semiconductor industry, specifically in design and packaging. 7 Rays Semiconductors will support Kaynes Semicon in outsourced semiconductor assembly and test (OSAT) packaging across various sectors such as AI, telecom, automotive, computing, and IoT. The partnership aims to focus on global market connections and supply chain resilience, with a particular emphasis on emerging sectors like cloud storage, AI, IoT, robotics, and advanced mechatronics. Kaynes Semicon has received approval for its chip assembly and packaging unit in Gujarat, with agreements already in place with international customers.
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