Syrma SGS and Shinhyup to Develop Multilayer PCBs and Copper Clad Laminates in Andhra Pradesh

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Chennai-based electronics manufacturer Syrma SGS Technology Limited has formed a strategic joint venture (JV) with South Korea’s Shinhyup Electronics, valued at INR 1,800 crore. This partnership aims to strengthen India’s high-end electronics manufacturing capabilities by combining Syrma SGS’ domestic expertise with Shinhyup’s advanced technology and marketing support to provide multilayer PCB and copper clad laminates.

The JV, named Syrma SGS Electronics Private Limited (SSEPL), has received approval from the Andhra Pradesh government. A 26.70-acre site in Menakuru village, near Naidupeta town, has been allotted for the project, which involves a total investment of INR 1,595 crore.

Under the state’s Electronics Components Manufacturing and Supply (ECMS) Policy 2025–30, SSEPL will invest Rs 1,076 crore to establish a manufacturing and R&D facility.

The project also qualifies for “early-bird” incentives, including a 75 percent land subsidy from the Andhra Pradesh Industrial Infrastructure Corporation (APIIC), pending Union Ministry of Electronics and IT approval.

This JV will create India’s first integrated facility for multi-layer Printed Circuit Boards (PCBs) and Copper Clad Laminates (CCLs) at Naidupeta. Once operational, expected by 2026-27, it is projected to reduce India’s import dependence for critical electronic components, support indigenous innovation, and boost domestic manufacturing.

The development further strengthens Syrma SGS’ position in India’s electronics sector and aligns with the ‘Make in India’ and Atmanirbhar Bharat initiatives, reflecting the government’s push for self-reliance in strategic industries. Argus Partners advised Syrma SGS Technology Limited on this JV, with a team led by partners Abhinav Bhalaik and Aayush Kumar, supported by associate Vishakha Somani.

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