ASM Technologies to Invest ₹510 Cr in Karnataka
ASM Technologies Limited, a leader in Design-Led Manufacturing for the semiconductor and automotive industries, has signed an MoU with the Government of Karnataka to invest ₹510 crore in expanding its ESDM-related manufacturing and precision engineering capabilities.
As part of the agreement, ASM will acquire 10 acres from the Karnataka Industrial Areas Development Board (KIADB) to establish a state-of-the-art design facility.
Speaking about the MoU, Rabindra Srikantan, Managing Director of ASM Technologies Limited, said, “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. 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 give a fillip to the company’s design-led manufacturing operations and will serve as core centres of excellence for its clients across key industry verticals.
These developments mark yet another step in ASM’s pursuit of leadership in engineering innovation and its commitment to the highest degree of excellence. This also complements the Government of India’s ‘Make in India’ initiative. Through these investments, the company plans to augment its capabilities and offerings in design-led manufacturing and precision engineering while contributing to industrial progress.
