Latest news with #SiCsemPvtLtd
India.com
4 days ago
- Business
- India.com
Amid Trump's tariffs tension, Modi Govt takes rapid decisions, approves Rs 46000000000 investment in…, to boost…
The Union Cabinet has cleared four semiconductor projects worth a total investment of Rs 4594 crore for Odisha, Punjab, and Andhra Pradesh, Information & Broadcasting Minister Ashwini Vaishnaw said on Tuesday. These projects have been sanctioned under the Rs 76000 crore India Semiconductor Mission, aimed at providing financial support to establish chip manufacturing facilities in the country. 'Cabinet has approved four semiconductor plants that will be set up in Odisha, Punjab and Andhra Pradesh,' Vaishnaw said. Where Will The Semiconductor Plants Be Established? The minister said that a silicon carbide semiconductor plant will be set up in Bhubaneswar with an investment of Rs 2,066 crore by SiCsem Pvt Ltd. 'Silicon carbide is a very robust material and can sustain at high temperatures. Silicon carbide is used in our missiles, satellites, telecom towers, rockets, railway engines, etc,' Vaishnaw said. The minister said that the plant will have a capacity to produce 9.6 crore chips per year. The Cabinet also approved US chip major Intel-backed 3D Glass semiconductor manufacturing unit in Odisha with an investment of Rs 1,943 crore. The plant will be set up by Heterogenous Integration Packaging Solutions Pvt Ltd with an annual production capacity of 5 crore units. Will US Firm To Back India's Semiconductor Mission? The minister said the project will be backed by US firm Lockheed Martin as well. A chip packaging plant in Andhra Pradesh, to be set up by Advanced System in Package Technologies with an investment of Rs 468 crore, was also approved by the Cabinet. It will have a capacity to produce 9.6 crore chips per year. The cabinet also cleared a semiconductor project of electronics component maker firm CDIL. The facility will be set up in Punjab with an investment of Rs 117 crore, having an annual production capacity of 15.8 crore units. The minister said that due to various steps taken by the Prime Minister Narendra Modi-led government, the electronics manufacturing sector has grown six times to Rs 12 lakh crore in the last 11 years. He said that electronics exports have grown by 8 times to Rs 3.3 lakh crore and mobile production has increased by 28 times to Rs 5.5 lakh crore. (With Inputs From PTI)
New Indian Express
4 days ago
- Business
- New Indian Express
Union Cabinet approves Phase-IB of Lucknow Metro project; 4 chip plants in Odisha, Punjab, AP
The Union Cabinet on Tuesday approved several projects, including four semiconductor plants for Odisha, Punjab and Andhra Pradesh, the Phase-IB of the Lucknow Metro project and a 700 MW Tato-II hydro-electric project in Arunachal Pradesh. The Cabinet meeting was chaired by Prime Minister Narendra Modi. Under the India Semiconductor Mission, which has an outlay of Rs 76,000 crore to provide financial support for setting up chip facilities in the country, the government has approved four semiconductor projects entailing Rs 4,594 crore investment in the three states. According to Information & Broadcasting Minister Ashwini Vaishnaw, a silicon carbide semiconductor plant will be set up in Bhubaneswar with an investment of Rs 2,066 crore by SiCsem Pvt Ltd. Another plant in the state will be set up for 3D Glass manufacturing with an investment of Rs 1,943 crore. The minister said that the 3D Glass semiconductor plant will be backed by investment from leading US technology firm Intel, Lockheed Martin, etc. The Cabinet approved a chip packaging plant in Andhra Pradesh, which will be set up by Advanced System in Package Technologies Pvt Ltd with an investment of Rs 468 crore. A semiconductor project of electronic component maker firm CDIL, to be set up in Punjab with an investment of Rs 117 crore, has been approved, the minister stated. Phase-IB of Lucknow Metro project The government also approved the Phase-IB of the Lucknow Metro project with a corridor length of 11.165 km at a cost of Rs 5,801 crore.
