Electronics manufacturing services firm Syrma SGS Technology Ltd. announced on Monday that it has commenced construction of a new state-of-the-art printed circuit board (PCB) manufacturing facility in Andhra Pradesh through its subsidiary, Syrma Strategic Electronics Private Ltd.

Key Details of the New Facility:

• Location: Naidupeta Industrial Zone, Andhra Pradesh.
• Production Scope: The plant will manufacture a full spectrum of PCBs, including single-layer and multi-layer variants.
• Strategic Impact: The facility is intended to expand the company’s production capabilities and strengthen its role in India’s rapidly growing electronics manufacturing ecosystem.
• Employment: The project is expected to create over 1,000 direct jobs, supporting local talent and regional economic development.

Joint Venture with South Korean Partner:

To bolster technical expertise, Syrma SGS has also formed a joint venture with South Korea’s Shinhyup Electronics (SH Electronics Ltd.), known for its PCB engineering precision. The collaboration aims to enhance manufacturing capabilities, improve quality, and increase the new facility's competitiveness.

Market Reaction:

Shares of Syrma SGS Technology ended Monday’s session 1.01% lower at ₹812.45 on the BSE.