Bhubaneswar: US-based Silicon Power Group will be opening a 150mm Silicon Carbide manufacturing facility in Odisha at an investment of Rs 1,000 crore, official sources said on Thursday.
The investment will be made by the group’s Indian Subsidiary, RiR Power Electronics.
The sources further said that Harshad Mehta, promoter of the group, submitted a Letter of Intent to the Odisha government delegation which is on an official visit to the US, after a comprehensive and wide-ranging discussion, highlighting the state’s industrial ecosystem and the generous package of incentives available under different policies, including in the upcoming Semiconductor Manufacturing and Fabless Policy which has received Cabinet approval.
On July 21, the Cabinet approved Odisha Semiconductor Manufacturing & Fabless Policy to facilitate investors to enter into manufacturing of Semiconductor/Electronic Chips in Odisha.
This will be a first-of-its-kind manufacturing facility in Odisha. A company team led by Mehta will visit Odisha within one month, and the company has committed to start operations in the next 18 to 24 months, the sources added.
Silicon Power is a major technology developer and solutions provider in the design, development, manufacturing and testing of high-power semiconductor devices and utility-applicable systems. RiR serves customers in a range of fields, including industrial, electric utility, railways, renewables, and defence.
Notably, A UK-based company is planning to set up a massive semiconductor fabrication unit in Ganjam district with an initial investment of Rs 30,000 crore in the first phase. The overall project is worth around Rs 2 lakh crore. The SRAM & MRAM Technologies and Projects India Pvt Limited, the Indian unit of UK-based SRAM & MRAM Group, had signed an MoU with the government on March 26 to set up the unit in the state. The company requires up to 800 acres of land to establish the unit.
