Finance
Odisha will soon be home to the country’s first semiconductor manufacturing facility. SRAM & MRAM Group, a business conglomerate based in the United Kingdom, has proposed establishing a semiconductor fabrication unit on 40 acres of land near Bhubaneswar with an initial investment of Rs 30,000 crore.
According to an official release, the Group’s authorities revealed this at a press conference.
The unit, which will be established within the next two months with a total investment of Rs 2 lakh crore, will provide direct employment opportunities for 400-500 young men and women as well as indirect employment opportunities for a large number of young men and women.
Previously, India relied on China, Taiwan, Korea, and other countries for semiconductor chips, which are used in everything from washing machines to airplanes.
The establishment of this unit in Odisha will allow work on various types of machinery waiting for semiconductor chips to be expedited without relying on foreign countries manufacturing semiconductor chips, according to the Group’s officials.
The Group thanked the State government for its interest in establishing a production unit in Odisha in response to Chief Minister Naveen Patnaik’s call and the availability of skilled and efficient labor here.
At the Make in Odisha Conclave 2022, the Group’s Vice Chairman Gurujee Kumaran Swami and Odisha In-charge Debadutta Singh Deo briefed the press.
The press conference was attended by officials from the Government of Odisha, including LN Agrawal, Rohini Singh Deo, and Priyanka Singh Deo.
Source:OCN
