British company will set up semiconductor plant in Odisha, preparing to invest thousands of crores.

A UK company is planning to set up a semiconductor plant in Odisha’s Ganjam district with an investment of Rs 30,000 crore in the first phase. UK-based SRAM & Technologies and its Indian arm Projects India Pvt Ltd had signed a memorandum of understanding (MoU) with the state government on March 26 to set up a semiconductor plant in the state. After visiting some places near Chhatrapur in the district, the officials of the Indian company held a meeting with the district administration on Thursday. Guruji Kumaran Swamy, Chairman, Projects India Private Limited and Divya Jyoti, District Magistrate, Ganjam were present in the meeting. The company needs around 500 to 800 acres of land to set up the plant.

Agreement between Gujarat government and American company Micron

Let us tell you that two days ago, the Gujarat government has signed a Memorandum of Understanding (MoU) with the American chip maker Micron. Under this initial agreement, a semiconductor plant and test facility will be set up at Sanand in Ahmedabad district with an investment of $ 2.75 billion. India has been dependent on imports of semiconductor chips for many years and the demand will increase as the manufacturing sector in the country grows. The Sanand plant will see a total investment of $2.75 billion (about Rs 22,540 crore).

India-made first semiconductor chip by December, 2024

Union Communications and Information Technology (IT) Minister Ashwini Vaishnav had recently said that the first Indian-made semiconductor chip would arrive by December next year. He said that four-five semiconductor plants are likely to be set up in the country within a year. Vaishnav said, “The first ‘Made in India’ (made in India) chip will come by December, 2024.” He said that for the proposed Micron Semiconductor plant in Gujarat, land allotment, plant design work and tax compliance agreements have been done.