KTR raises concern over Kaynes shelving Telangana plans
Amid reports that Kaynes SemiCon shelved its plans to establish a major chip unit in Telangana and opted to move the investment to Gujarat, BRS working president KT Rama Rao expressed disappointment calling it a huge loss for State.
Hyderabad: Amid reports that Kaynes SemiCon shelved its plans to establish a major chip unit in Telangana and opted to move the investment to Gujarat, BRS working president KT Rama Rao expressed disappointment calling it a huge loss for State. He also raised concern over its impact on the semiconductor eco-system in Telangana.
“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,” Rama Rao said in a statement. He said extensive efforts were made by the Telangana government to secure this investment, which was expected to exceed Rs 3,500 crore.
The former minister said the company wanted land allotted right next to the Foxconn plant at Kongara Kalan, close to Hyderabad Airport. “We got that done in less than 10 days to win them over,” he added, explaining the State’s proactive approach in meeting the company’s requirements during the BRS regime.
The news of Kaynes SemiCon’s decision to relocate to Gujarat has come as a blow to Telangana’s industrial ambitions, particularly in the burgeoning semiconductor sector. “Now to see this news that they are moving to Gujarat is truly saddening for us who worked hard for this,” he added.
