Bhubaneswar, July 27: US-based Silicon Power Group is all set to open a 150 mm 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, Chief Minister office sources here on Thursday said.
Dr Harshad Mehta, promoter of the group and an electronics and semiconductor industry veteran with 4 decades of leadership experience, has submitted a Letter of Intent to the Odisha government delegation which is on an official visit to the US.
This will be a first-of-its-kind manufacturing facility in Odisha and will serve as a testament to the efforts of the Odisha government to develop a semiconductor ecosystem in the state.
A company team, led by Dr Mehta himself, will visit Odisha within one month, and the company has committed to start operations in the next 18 to 24 months, the sources said.
During a comprehensive and wide-ranging discussion with the company team, the Odisha government delegation gave a presentation highlighting Odisha’s industrial ecosystem and the generous package of incentives available under different policies, including the upcoming Semiconductor Manufacturing and Fabless Policy which has received Cabinet approval.
The proposal of the Silicon Power Group will bolster the industrial landscape and create significant employment opportunities in Odisha.
