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Global Promoter Keen to Set up HDI-PCB (High Density Interconnect Printed Circuit Board) Facility,
Investment 530 Million US Dollar, Jobs for 3500
Integreon to Set up Offshore Development Centre in Odisha, to Offer AI/ML Based Business Insights
Palo Alto/ Bhubaneswar 28th July 2023:
Odisha is all set to be a Global IT & Semiconductor Hotspot as many large IT and Semiconductor MNCS have expressed their Investment Intension in the State.
The prospects loomed large during the discussion of the Government of Odisha delegation with top Silicon Valley Industry leaders from various fields such as IT, semiconductor design and automation, VC, professional services, AI/ML, and 5G.
Leaders Cadence Design Systems, Integreon, Celano.io, eFabless Corporation, and many other MNCs participated in these discussions.
The delegation interacted with various software service companies including major IT MNC Cognizant Technology Solutions (CTS).
Delegation interacted with Cognizant CEO Mr Ravi Kumar and showcased the advantages of Odisha for a possible footprint for Cognizant (CTS) in the State.
The delegation met with Mr. PR Patel, promoter of Global HDI PCB Manufacturing Inc., US, and a former executive at Intel. The delegation provided him a comprehensive account of Odisha’s advantages, ranging from natural endowments to generous incentives and an investment friendly climate.
After detailed discussions, Mr. Patel expressed his intent to set up an HDI-PCB manufacturing facility in the state with a cumulative investment of approximately Rs. 4,360 crore (~530 million USD) over a period of 7 years. An estimated 3,500 jobs would be generated through this investment along with ancillary benefits such as strengthening and development of a semiconductor ecosystem.
HDI PCBs are a type of Printed Circuit Board (PCB) that offers a higher wiring density per unit area compared to traditional circuit boards and are particularly useful in complex, high-performance products that require high-frequency signal transmission.
Mr. Patel’s team will soon make a visit to Odisha for site inspection.
In another meeting, the delegation interacted with Mr. Subroto Mukerji, CEO, Integreon. With operations in the US, UK, India, and Philippines, the firm specializes in performing outsourced services of corporations and law firms.
It provides services such as contract management, legal operations support and document review to law firms and business intelligence and research to corporations.
Letter of Intent (LoI) have been received from Integreon for setting up of its Offshore Development Centers of 500 Persons capacity in Odisha to offer AI/ML derived business insights to clients.
Later, the delegation had a discussion with Mr. Rajeev Shah, CEO and Co-founder of Celona.io, a pioneer and leading innovator of enterprise private wireless solutions credited with developing the industry’s first 5G LAN system.
The delegation briefed him on the advancements Odisha has made in extending high-speed network connectivity to even the most remote regions of the state.
As per discussions, Government of Odisha will facilitate joint research projects between Celona and top Odisha institutions in fields of 5G and Industry 4.0 and also help the company establish a CoE in Bhubaneswar in the said domains.
