Mysuru-based Kaynes Technology sanctioned 20 acres; Germany-based Wurth Technology given 10 acres
Mysore/Mysuru: The stage is set for the ambitious Semiconductor Park to take shape at the Kochanahalli Industrial Area near Kadakola, close to Nanjangud.
Karnataka Industrial Area Development Board (KIADB) has acquired a total of 234 acres in Kochanahalli, with 140 acres earmarked specifically for the Electronics Manufacturing Cluster (EMC), known as Semiconductor Park.
Mysuru-based Kaynes Technology and Wurth Technology have secured the necessary land in Kochanahalli to establish their respective units.
KIADB acquires 234 acres
Kochanahalli Industrial Area, part of the second phase of development along with Kadakola and Tandavapura Industrial Areas, has seen significant progress. Out of the total 234 acres allocated for EMC, 140 acres are available after setting aside land for Civic Amenities (CA) sites, roads and a Sewage Treatment Plant (STP).
Basic infrastructure such as roads and drainage has been completed at Semiconductor Park, with only a few pending tasks remaining.
Earlier, Israel-based Analog Fab Private Ltd. had planned to set up a semiconductor chip manufacturing unit in Mysuru, aiming to create 10,000 jobs. However, a US-based company acquired Analog Fab, resulting in the cancellation of the investment plan for Mysuru’s Semiconductor Park.
Subsequently, the State Government strictly enforced regulations preventing the use of the land designated for the Semiconductor Park for other purposes.
In a recent development, two companies have signed Memoranda of Understanding (MoUs) with the Government to commence operations soon, signalling renewed momentum for the Semiconductor Park project.
Kaynes’ second unitin Mysuru
Balachandra, Assistant Executive Engineer (AEE) at KIADB, said, “Kaynes Technology has been allocated 20 acres of land, and Germany-based Wurth Technology, 10 acres. Kaynes, which already operates a unit in Telangana, has expressed interest in setting up another unit in Mysuru.”
The allocation of land follows agreements reached between these companies and the government. Other companies have also inspected the land, and it will be allotted to those that move forward with establishing their plants here, he noted.
To attract investments, the Central Government is offering subsidies for establishing Semiconductor Plants. According to Balachandra, the current market value sets the allotment price at Rs. 1.16 crore per acre for the designated 140-acre land in Kochanahalli exclusively reserved for semiconductor plants.
20 percent subsidy promised
Minister for Heavy and Medium Industries M.B. Patil has indicated that the Karnataka Government is prepared to offer a 20 percent subsidy if the Centre provides a 50 percent subsidy similar to what Gujarat offers to encourage semiconductor plant establishments in that State.
Patil clarified this in response to a query raised by Union Minister of Steel and Heavy Industries H.D. Kumaraswamy, who inquired whether Karnataka would also provide subsidies like Gujarat, where Micron Technology from the US received a 50 percent subsidy from the Central Government, complemented by a 20 percent subsidy from that State.
Securing such benefits for Karnataka, akin to Gujarat, is expected to significantly enhance industrial prospects, particularly in Mysuru. This is anticipated to create job opportunities that attract talent not only locally but also from outside the state, leading to increased demand for rental housing and boosting business opportunities.
Suresh Kumar Jain, General Secretary of Mysore Industries Association (MIA), highlighted that the process of sanctioning land at Kochanahalli Industrial Area will commence upon receiving the Total Environment Impact Assessment Report.
The 140 acres are designated for electronic, semiconductor, and EMC manufacturing units, tailored to accommodate industrial needs ranging from half-acre to 10 acres for up to 70 industries.
Jain further mentioned that a Hyderabad-based industrialist recently applied for 49 acres of land, committing an investment of Rs. 800 crore. If successful, this venture could create 4,000 to 5,000 jobs.
This post was published on June 30, 2024 7:43 pm