Semiconductor policy logs $10 Bn commitment
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Semiconductor policy logs $10 Bn commitment

By SiliconIndia   |   Friday, 25 January 2008, 12:26 Hrs
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New Delhi: As a good response to its fab policy promoting semiconductor, micro and nano technology manufacturing industries, the Government has now received investment commitments worth almost Rs 40,000 crore ($10 billion), reported Business Line.

Apart from earlier application by three companies, two more firms - Signet Solar and KSK Surya Photovoltaic Venture - have submitted applications with investment proposals adding up to nearly Rs 19,000 crore ($4.75 billion).

While Signet Solar's proposal adds up Rs 9,000 crore ($2.25 billion) investment blueprint to manufacture solar photovoltaic modules, KSK has outlined about Rs 10,000 crore ($2.5 billion) investment plan, senior Government officials said.

"All the five applications taken together, entail combined investments to the tune of Rs 40,000 crore. We are examining various proposals and expect other companies to apply soon," said M Madhavan Nambiar, Additional Secretary, the IT Department.

Moser Baer, Videocon and Titan Energy had earlier submitted formal applications to the Government, with combined investment value touching Rs 20,000 ($5 billion) crore. While Moser Baer has a plan to manufacture solar pholovoltaic cells modules, Titan Energy Systems would start with solar cells and modules project and later get into wafer and poly silicon. The proposal by Videocon is related to an LCD unit.

According to sources, the IT Department was also receiving many informal enquiries from companies like Suzlon, Reliance, Solar Semiconductor, and Tatas.

Under the Special Incentive Package Scheme announced by the government last year investors will get an incentive of 20 percent of the capital expenditure during the first 10 years for the units within special economic zone (SEZ), and 25 percent for non-SEZ units.

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