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Videocon to set up fab city in Hyderabad
By siliconindia
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Monday, 12 March 2007, 17:30 IST
Hyderabad: The Videocon group, the country's largest consumer electronics and durables manufacturer, is contemplating setting up a semiconductor facility in Hyderabad. The fast moving consumer goods (FMCG) major, which intends to invest upwards of $2.2 billion in the proposed facility, is currently in the process of evaluating various locations such as West Bengal.
"We have already signed a non-disclosure agreement with the world's largest technology patent company for technology partnership and are currently on the lookout for a suitable location. At present, we are looking at opportunities in West Bengal as it is promising better subsidies and infrastructure," said Videocon chairman Venugopal N Dhoot.
"However, Andhra Pradesh might be considered or any other state if it doles out even more favorable incentives and sops," he added while declining to disclose the name of the company it had signed the non-disclosure agreement with.
The company is constructing a 20-acre IT park adjoining its Rs 200-crore state-of-the-art manufacturing facility in the Hardware Technology Park on the outskirts of Hyderabad, added Dhoot.
Dhoot said that the construction work has begun and the project is expected to complete within two years.