Taiwan Electrical and Electronic Manufacturers' Association (TEEMA) today signed a pact with Karnataka Industrial Areas Development Board (KIADB) for establishing Taiwan Electronic Manufacturing Cluster (TEMC) here with an investment of USD 500 million.
The state Minister for Large & Medium Industry R V Deshpande had an interaction with TEEMA's 21 member delegation, led by Francis Tsai, Executive Director, TEEMA for establishing TEMC manufacturing facility in the 100-acre Devanahally IT park, according to an official release.
The meeting was "fruitful" with TEEMA agreeing to sign an MoU with KIADB today in this regard, with an indicative investment of USD 500 million, it said. Taiwan Electrical and Electronic Manufacturers' Association (TEEMA) was founded 65 years ago in 1948.
The MoU is to establish Phase-I of 'Taiwan Electronic Manufacturing Cluster' (TEMC), Bengaluru, a manufacturing facility in Devanahally IT park with a proposed future expansion in another 800-1,000-acre industrial park near Bengaluru, it added.
TEEMA will also set up a training and incubation centre in IT park with focus on providing employment to more than 20,000-30,000 people once the TEMC becomes operational, it added. The Karnataka government and all its authorities will facilitate for the same on a fast-track basis so that the TEMC becomes operational in the "shortest time", the release added.