US-based Silicon Power Group has planned 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.
“Harshad Mehta, promoter of the group and an electronics and semiconductor industry veteran with four decades of leadership experience, has submitted a Letter of Intent to the government of Odisha delegation which is on an official visit to the US,” said a media release issued by the chief minister’s office on Thursday.
At present, a delegation comprising the chief minister's private secretary and 5-T (transformation initiatives) secretary V.K. Pandian; development commissioner Anu Garg; principal secretary of electronics and IT, Manoj Mishra; electronics and IT minister Tusharkanti Behera and others are on a visit to the US to bring investment to the state, particularly in the field of electronics and IT.
Started in 1994 by Mehta and headquartered in the US, 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.
“This will be a first-of-its-kind manufacturing facility in Odisha and will serve as a testament to the efforts the government of Odisha has put in to develop a semiconductor ecosystem in the state. A company team, led by Mehta himself, will visit Odisha within one month and the company has committed to start operations in the next 18 to 24 months,” said the release.
During a comprehensive discussion with the company team, the Odisha government delegation made 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.
