Last Update: July 01, 2023, 5:39 PM IST
A UK-based company is planning to set up a semiconductor manufacturing unit in Odisha’s Ganjam district with an investment of Rs 30,000 crore in the first phase, officials said.
SRAM & MRAM Technologies & Projects India Pvt Ltd, the Indian arm of UK-based SRAM & MRAM Group, signed a memorandum of understanding (MoU) with the state government on March 26 to set up a semiconductor unit in the state.
After visiting some sites near Chhatrapur in the district, its Indian company officials led by its chairman Guruji Kumaran Swamy held a meeting with the district administration in Chhatrapur on Thursday.
Ganjam Collector Dibya Jyoti Parida has assured all facilities to the investors to set up the unit.
“We have visited some sites including Tata’s industrial park and some private land for setting up the proposed semiconductor unit. A technical team from the company will visit the district to finalize the site,” said Debadatt Singhdeo, project director of the firm.
The company needs about 500 to 800 acres of land to set up the unit.
Although company officials also visited some other districts, they preferred the site near Chhatrapur because of its proximity to the Gopalpur port, a dedicated industrial corridor, an airstrip and a national highway, besides clean water and energy Availability of – which is a basic requirement. manufacturing unit, sources said.
The company has set a target of setting up the unit within two years and providing direct employment to 5,000 people. Singhdeo said it also plans to expand the unit in subsequent phases by 2027 by investing around Rs 2 lakh crore.
The semiconductor unit will produce memory chips used in mobile phones, television sets, laptops, air conditioners and ATMs. Since the country is not self-sufficient in manufacturing semiconductors, it imports semiconductors worth about Rs 3 lakh crore annually from various countries.
Berhampur MP Chandra Shekhar Sahu said, “The project will give a boost to industrialization in the district.”
He said that many companies were interested in investing in the State due to attractive industrial policy.
Sahoo said the proposed unit would help in meeting the requirement of semiconductors in the country along with generating employment.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI,