Karnataka Govt. Signs MoU for Rs 510 cr ESDM Investment

Bengaluru, Feb 12 (PTI) The Karnataka government signed a Memorandum of Understanding with ASM Technologies Limited, a design-led manufacturing company in the semiconductor and automotive industries for an investment of Rs 510 crore in the state at 'Invest Karnataka 2025' on Wednesday.

The city-based ASM Technologies will expand its Electronic System Design and Manufacturing (ESDM) capacity, according to a company press release.

As part of the agreement, ASM Technologies will acquire 10 acres of land from the Karnataka Industrial Areas Development Board (KIADB) to establish a state-of-the-art design facility, the release added.

"This expansion will enhance our precision engineering capabilities in the electronics, semiconductor and solar industries, create employment opportunities and drive technological advancements in the region," said Rabindra Srikantan, managing director of ASM Technologies Limited.

The company also recently commenced operations at two new state-of-the-art manufacturing facilities in Dabaspet, Karnataka and Sriperumbudur, Tamil Nadu, the release stated.