Odisha to Receive Rs 30,000 Crore Investment from UK Company, Resulting in 5,000 New Jobs
Officials have announced that a company from the UK intends to establish a semiconductor fabrication facility in the Ganjam district of Odisha. The company plans to invest Rs 30,000 crore in the initial phase of the project.
SRAM & MRAM Technologies and Projects India Pvt Limited, the Indian unit of UK-based SRAM & MRAM Group, had signed an MoU with the state government on March 26 to set up a semiconductor unit in the state.
After visiting some places near Chhatrapur in the district, officials of its Indian company under the leadership of its chairman Guruji Kumaran Swami held a meeting with the district administration at Chhatrapur on Thursday.
Ganjam Collector Dibya Jyoti Parida has assured the investors of all the prerequisites for setting up the unit.
“We have visited some sites, including the Tata Industrial Park and some private lands for the construction of the planned semiconductor unit. The company’s technical team will visit the area to finalize the site,” said Debadutt Singhdeo, project director of the company.
The company needs about 500-800 hectares of land to establish the unit.
While company officials also visited some other areas, they preferred the site near Chhatrapuri because of its proximity to Gopalpur port, a dedicated industrial corridor, an airstrip and a highway, and access to clean water and energy, which are basic requirements of the city. manufacturing unit, sources said.
The company’s goal is to establish a unit in two years and directly employ 5,000 people. It has also planned to expand the unit in later stages by investing about Rs 2,000 crore by 2027, Singhdeo said.
The semiconductor unit produces memory chips used in mobile phones, televisions, laptops, air conditioners and ATMs. Since the country is not dependent on semiconductor manufacturing, it imports about 3 lakh rupees worth of semiconductors from different countries every year.
“The project will increase the industrialization of the region,” said Berhampur MP Chandra Sekhar Sahu.
He said that due to the attractive industrial policy, several companies are interested in investing in the state.
The proposed unit will help create jobs and meet the need for semiconductors in the country, Sahu said.
