Bhubaneswar: US based Silicon Power Group is all set to open 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.
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 Government of Odisha delegation which is on an official visit to the US.
Started in 1994 by Dr. 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 Government of Odisha has put-in 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.
During a comprehensive and wide-ranging discussion with the company team, the Government of Odisha delegation gave a presentation highlighting Odisha’s industrial ecosystem and the generous package of incentives available under different policies, including in the upcoming Semiconductor Manufacturing and Fabless Policy which has received Cabinet approval.
Post the presentation and subsequent discussions, the company submitted an LoI to set up the manufacturing facility in the state.
Silicon Power is a pioneer and leader in medium voltage, sub-cycle switching technology and solutions. Its offerings include the design and manufacturing of leading-edge Si and SiC devices and modules through its US subsidiary SiCamore Semi and large industrial/utility power systems through another US subsidiary, the Innova Power Solutions Group.
It operates in India through its subsidiary, RiR Power Electronics.
RiR serves customers in a range of fields, including industrial, electric utility, railways, renewables, and defense.
This remarkable milestone signifies the commitment of Government of Odisha to develop a cutting-edge manufacturing and semiconductor ecosystem in the state and aligns with its vision of technology-driven progress. It will bolster the industrial landscape and create significant employment opportunities in the state.