Kaynes Technology and the Karnataka IT&BT Department on Thursday signed an MoU for establishing a semiconductor meeting and testing facility (OSAT) in Mysuru.

The MoU was signed for an funding of ₹3,750 crore to assist generate 3,200 jobs.

Kaynes Circuits India Pvt. Ltd. will spearhead the institution of a Printed Circuit Board (PCB) manufacturing plant for producing advanced multi-layered boards. The MoU with Kaynes will put Karnataka within the forefront of OSAT and PCB, mentioned a press launch.

Chief Minister Siddaramiah, Minister for IT/BT and Rural Development and Panchayat Raj Priyank Kharge, Chief Secretary Vandita Sharma, Commissioner for Industrial Development and Director, Department of Industries & Commerce, Gunjan Krishna, and KDEM CEO Sanjeev Gupta had been current on the signing of the MoU.