Zoho-backed Silectric to invest Rs 3,426 crore in Karnataka

Silectric Semiconductor Manufacturing, a venture backed by Chennai-based Zoho Corp, will invest Rs 3,425.6 crore to set up a manufacturing unit in Karnataka’s electronics manufacturing cluster at Kochanahalli, Mysuru. The project is expected to create 460 jobs.

This investment is among 10 new and additional proposals worth Rs 9,823 crore cleared by the 64th State High-Level Clearance Committee (SHLCC), chaired by Karnataka chief minister Siddaramaiah on Monday. Collectively, these projects are projected to generate 5,605 jobs across the state. Other major investments include Rs 2,150 crore by Sansera Engineering, Rs 998 crore by DN Solutions India and Rs 847 crore by Sify Data Managed Services.