Chennai-based Syrma SGS Technology Limited has formed a strategic joint venture with South Korea's Shinhyup Electronics Co., Ltd. to establish India's first integrated facility for multi-layer printed circuit boards (PCBs) and copper clad laminates (CCLs) in Andhra Pradesh. The project, valued at INR 1,800 crore (approximately USD 2.03 million or CNY 14.5 million), is expected to be operational by 2026–27. The JV agreement was initially announced on July 15, and has now received state approval.

The new entity, Syrma SGS Electronics Private Limited (SSEPL), has received state approval and been allotted 26.7 acres in Menakuru village near Naidupeta. Under Andhra Pradesh's Electronics Components Manufacturing and Supply (ECMS) Policy 2025–30, SSEPL will invest INR 1,076 crore in a manufacturing and R&D facility and will benefit from "early-bird" incentives, including a 75% land subsidy pending central government clearance.

Syrma SGS will hold a 75% stake in the JV, with Shinhyup taking the remaining 25%. Syrma SGS will nominate the majority of the board, while Shinhyup will provide advanced PCB technology and marketing expertise. Once complete, the facility will produce multi-layer PCBs—including flexible PCBs—and CCLs, significantly reducing India's reliance on imports and boosting domestic innovation in electronics manufacturing.

Founded in 2004, Syrma SGS is a leading electronics manufacturing services (EMS) provider with facilities across India and offices in the U.S. and Germany, serving industries such as consumer electronics, automotive, healthcare, and industrial equipment. Shinhyup, established in 1987 and headquartered in Incheon with additional facilities in Busan, specializes in PCBs for automotive electronics, appliances, IT, and medical devices, supplying global clients including DENSO, LG Electronics, Mobase, and Sekonix.

The JV strengthens Syrma SGS' position in India's electronics sector and aligns with the government's "Make in India" and Atmanirbhar Bharat initiatives to build self-reliance in strategic industries.