Bhubaneswar: UK-based SRAM & MRAM Group will invest Rs 30,000 crore in Odisha to set up a semiconductor unit, a source said Monday.
According to a press notification issued by the company, it has signed an MoU with Odisha govt in this regard.
The UK-based firm will bring global technology partners, who will get involved in the production of semiconductors in the state.
Vice-Chairman of SRAM & MRAM Group Gurujee Kumaran Swami said that Odisha government is optimistic about the group’s potential as well as the growth of the state’s semiconductor industry.
It may be mentioned here that to enable the state to design and create chips and devices, the government of Odisha and the Epic Foundation late last year inked a Memorandum of Understanding (MoU). It was announced that the initial emphasis of the cooperation would be the construction of a tablet PC in order to meet the growing demand for devices in the education and healthcare sectors.
The main goal of the partnership with Epic is to build an ecosystem of design, production, distribution, and service businesses to satisfy domestic, international, and local demand for chips and electronics.
PNN