US-based firm reveals interest to set up silicon carbide manufacturing unit in Odisha
“This will be a first-of-its-kind manufacturing facility in Odisha and will serve as a testament to the efforts of the state government to develop a semiconductor ecosystem in the state,” said an official who is part of the govt delegation visiting the US.
2 min read
The company has submitted a letter of intent (LOI) to an Odisha government delegation, which is on an official visit to the US following its meeting with company promoter Harshad Mehta. (Credit: CMO, Odisha) US-based Silicon Power Corporation has evinced its interest to set up a 150mm silicon carbide manufacturing facility in Odisha with an investment of Rs 1,000 crore. The investment will be made by the group’s Indian subsidiary, RiR Power Electronics, said official sources.
The company has submitted a letter of intent (LOI) to an Odisha government delegation, which is on an official visit to the US following its meeting with company promoter Harshad Mehta.
Started in 1994 by Mehta and headquartered in the US, Silicon Power is a major technology developer and solutions provider in design, development, manufacturing and testing of high-power semiconductor devices and utility-applicable systems.
“This will be a first-of-its-kind manufacturing facility in Odisha and will serve as a testament to the efforts of the state government to develop a semiconductor ecosystem in the state,” said an official who is part of the delegation.
A team of the company led by Mehta has expressed its willingness to visit Odisha within one month and assured its commitment to start operations in the next 18 to 24 months, said the official.
The Odisha Cabinet had approved a proposal for a semiconductor manufacturing policy with various incentives on July 21, a day before the delegation comprising Electronics and IT Minister Tusharkanti Behera and senior officers left for the US.
To attract investors to Odisha in the sector, the delegation made a presentation highlighting Odisha’s industrial ecosystem and the lucrative package of incentives available under different policies, including in semiconductor manufacturing and fabless policy.
The foray of Silicon Power in Odisha will bolster the industrial landscape and create significant employment opportunities in the state, said the official.
You May Like
