Indo-U.S. consortium plans $4 B chip fabrication unit

By agencies   |   Friday, 16 September 2005, 07:00 Hrs
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NEW DELHI: A Indo-U.S. consortium is planning to invest $3-4 billion to set up a semiconductor fabrication unit in India, Communication and IT minister Dayanidhi Maran today said.

He said the consortium “Indian Equipment Manufacturing Company” (IEMC) is in talks with the government and if talks fructify, the government might pick up a stake in the project, lending it the much needed financial support.

In its earlier correspondence with the government, the IEMC had said that telecom giant like Motorola and Texas Instruments were willing to be part of the consortium, provided the government provides incentives.

The ministries of Information Technology and Finance have promised to help the consortium with all possible help like tax benefits, high quality power, land easy access to funds from abroad.

The IEMC intends to manufacture semiconductors of 50 nanometres and less. Recently another company Nano Tech Silicon India was started in Hyderabad to fabricate semiconductors of lesser sophistication (250 nanometers).

Many global company design semiconductors in Indian however manufacturing is still years away.

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