It was announced last year that the UK-Based SRAM & MRAM Group will invest Rs 2 lakh crore in Odisha to set up a semiconductor unit. Now, the conglomerate has confirmed that the state has received Rs 30,000 crore in the first phase of investment.
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An MoU was signed between IPICOL, the government of Odisha, and SRAM & MRAM Technologies to construct the semiconductor fab project in the state. The group’s investment arm Startup Wings leads the investment in the state.
An official confirmed that the UK company will bring global technology partners, who will get involved in the production of semiconductors in Odisha.
Dr Sailesh Lachu Hiranandani, Chairman of SRAM & MRAM Group, said: “This investment has been in the pipeline for a very long time and we are happy to see it finally shaping up into a reality. The development of the country is one of the priorities of all that we do. With this collaboration, we are eyeing some real major achievements rolling our way."
Meanwhile, Gurujee Kumaran Swami, Vice-Chairman of SRAM & MRAM Group, said the Odisha government is optimistic about the group’s potential and the growth of the state’s semiconductor industry.
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