MoU with Karnataka Government to Create Jobs, Enhance Precision Engineering, and Support ‘Make in India’ Initiative
ASM Technologies Limited, a leader in design-led manufacturing for the semiconductor and automotive sectors, has signed a Memorandum of Understanding (MoU) with the Government of Karnataka to invest Rs 510 crore in expanding its Electronics System Design and Manufacturing (ESDM) capabilities. The investment will focus on precision engineering for electronics, semiconductors, and solar industries, while creating employment opportunities and advancing technology in the region.
As part of the agreement, ASM will acquire 10 acres of land from the Karnataka Industrial Areas Development Board (KIADB) to establish a cutting-edge design facility. Rabindra Srikantan, Managing Director of ASM Technologies, emphasized the company’s commitment to Karnataka’s industrial growth and self-reliance, thanking the state government for its support.
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This expansion follows ASM’s recent launch of two state-of-the-art manufacturing facilities in Dabaspet, Karnataka, and Sriperumbudur, Tamil Nadu, spanning over 55,000 sq.ft. These facilities aim to strengthen the company’s design-led manufacturing operations and serve as centers of excellence for clients across key industries.
The investment aligns with the Government of India’s ‘Make in India’ initiative, reinforcing ASM’s leadership in engineering innovation and its dedication to industrial progress.