ASM Technologies to invest $59 million in Karnataka
As part of an MoU signed between the company and the Karnataka government, ASM Technologies will acquire 10 acres of land to set up a state-of-the-art design facility.
ASM Technologies Limited, a company involved in the design-led manufacturing in the semiconductor and automotive industries, has announced an investment of INR 5.1 billion (USD 59 million) in the Indian state of Karnataka.
As part of an MoU signed between the Indian company and the Karnataka government, ASM Technologies will acquire 10 acres of land from the Karnataka Industrial Areas Development Board (KIADB) to set up a state-of-the-art design facility.
“This MoU reaffirms ASM Technologies Limited’s’ commitment to Karnataka’s industrial growth and self-reliance. This expansion will enhance our precision engineering for the electronics, semiconductor and solar industries, create employment opportunities and promote technological advancements in the region,” Rabindra Srikantan, Managing Director of ASM Technologies Limited, said. “We are grateful to the Government of Karnataka for their support and look forward to a fruitful collaboration.”
ASM Technologies also recently commenced operations from its two new state-of-the-art manufacturing facilities at Dabaspet, Karnataka and Sriperumbudur, Tamil Nadu. Totalling over 55,000 sq.ft. across both locations, the facilities are expected to boost the company’s design-led manufacturing operations and will serve as core centres of excellence for its clients across key industry verticals.
