Chennai-based Zoho Corp-backed Silectric Semiconductor Manufacturing will invest Rs 3,425.6 crore to set up a manufacturing unit in Karnataka’s electronics manufacturing cluster in Kochanahalli, Mysuru. The project is expected to create 460 jobs.

The investment is part of 10 new and additional proposals worth Rs 9,823 crore approved on Monday by the 64th State High Level Licensing Committee (SHLCC), chaired by Karnataka Chief Minister Siddaramaiah. Collectively, these projects are expected to generate 5,605 jobs across the state. Other major investments include Rs 2,150 crore by Sansera Engineering, Rs 998 crore by DN Solutions India and Rs 847 crore by Sify Data Managed Services.

Silectric’s project would be the first to be launched in the electronics manufacturing hub of Kochanahalli, where the state has allocated 234 acres to focus on electronics and semiconductor production.

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The company’s decision to establish a manufacturing unit in Karnataka follows earlier reports suggesting plans for a manufacturing plant in Odisha. In September, the Odisha High Level Clearance Authority, chaired by Chief Minister Mohan Charan Majhi, approved 12 industrial projects worth Rs 39,271.5 crore, including the carbide devices unit Rs 3,034 crore silicon project from Silectric in Khurda district.

Zoho founder Sridhar Vembu later clarified that Silectric’s investment proposal for Odisha was still under review by authorities, terming the information “inaccurate”.

Launched in March 2024, Silectric Semiconductor Manufacturing will focus on the production of semiconductors for power electronics, with applications in electric vehicles (EV), automotive components and renewable energies. The company’s board of directors includes Radha Vembu, co-founder of Zoho, and Jai Anand, CFO of Zoho Finance. Zoho founder Vembu previously clarified that the company was only an investor in Silectric Semiconductor.