The Andhra Pradesh government has approved an incentive package worth Rs 856 crore for India’s largest printed circuit board (PCB) plant to be set up by electronics manufacturer Syrma SGS in partnership with Korea’s Shinhyup Electronics.

Cleared by the state Cabinet under Chief Minister N Chandrababu Naidu, the Rs 1,595 crore project will be located at the Naidupeta industrial area near Chennai, with 12.56 acres of land provided at 75 perent subsidised cost. The plant will operate under a 51:49 equity shareholding structure between Syrma SGS and Shinhyup.

Scheduled for commissioning in October 2026, the facility is expected to contribute Rs 6,200 crore to Syrma SGS’s topline in FY27. It will focus on single- and multi-layer PCB manufacturing, HDI/flex PCB production, copper clad laminate (CCL), and electronics manufacturing services. The project will serve key sectors like healthcare, automotive, electric mobility, and smart devices, aligning with India’s growing electronics ecosystem. 

With a turnover of Rs 3,836 crore in FY25 and a market cap near USD two billion, Syrma SGS already runs 14 facilities with 9,000 employees.