Nod for Kaynes’ Rs 3.3K crore chip plant in Gujarat

NEW DELHI: The government on Monday approved a proposal by Kaynes Semicon Pvt Ltd to set up a semiconductor assembly and testing plant in Sanand, Gujarat. The plant, which will be established at a cost of Rs 3,300 crore, is the fifth plant to be set up under India’s Semiconductor Mission.

The government launched the mission in December 2021 with an outlay of Rs 76,000 crore to make the country a semiconductor manufacturing hub. So far, the government has approved four applications for assembly units and one for chip manufacturing.