Telangana is poised to host an outsourced semiconductor assembly and test (OSAT) and compound semiconductor plant by Kaynes Technology, marking a watershed point in India's semiconductor mission.

Kaynes Technology's projected factory will cost Rs 2,800 crore to build and will employ approximately 2,000 people directly.

IT minister K.T. Rama Rao met with Kaynes managing director Ramesh Kannan and chairman Savitha Ramesh to announce the plant's location at Kongara Kalan, next to Foxconn's future electronics manufacturing site.

Kaynes Technology India Limited, a three-decade-old company, is a local player with a global reach in the electronics contract manufacturing services industry.

Kaynes Technology is venturing into OSAT and assembly, testing, marking, and packaging (ATMP) services under its subsidiary Kaynes Semicon.