Odisha To Get Rs 3,406-Cr Silicon Carbide Semiconductor Project

Kolkata: Odisha is set to get a major semiconductor manufacturing facility with an investment of Rs 3,406.25 crore, following approval from the Unit Approval Committee (UAC) of Falta SEZ, located near the city.

According to a statement issued on Tuesday, the approval was granted at the 217th meeting of the UAC to a proposal submitted by SiCSem Private Limited, a Tamil Nadu-based company.

The proposed unit will come up at IDCO Infovalley-II in Khordha district and will operate under the jurisdiction of Falta Special Economic Zone.

The project, spread over 21.889 acres, will manufacture silicon carbide (SiC) semiconductor devices, including SiC diodes and SiC MOSFETs. It is expected to have an annual production capacity of 4.8 million SiC diodes and 91.2 million SiC MOSFETs.

The project has a total cost of Rs 3,406.25 crore and is proposed to be funded through a central government capital subsidy of Rs 700 crore, an Odisha government subsidy of Rs 350 crore and promoter contribution of Rs 1,956.25 crore.

The facility is projected to generate an export turnover of Rs 7,043 crore over the next five years and net foreign exchange earnings of approximately Rs 4,523 crore during that period, the statement added.

The project is expected to strengthen India’s domestic capabilities in advanced semiconductor manufacturing and contribute to the country’s export-oriented high-technology industrial base.

The approval also gives a boost to Odisha’s emerging semiconductor ecosystem and underscores the role of the Falta Special Economic Zone in facilitating capital-intensive, technology-driven investments.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)