SRAM & MRAM To Set Up Semiconductor Unit Worth ₹30,000 Cr In Odisha
A UK-based company, SRAM & MRAM Technologies and Projects India Pvt Limited, is planning to establish a semiconductor fabrication unit in the Ganjam district of Odisha, India.
The company has signed a memorandum of understanding (MoU) with the state government to set up the unit with an investment of ₹30,000 crore in the first phase.
During a visit to the district, company officials met with the Ganjam Collector and expressed their interest in the site near Chhatrapur.
The officials considered factors such as the proximity to the Gopalpur port, an industrial corridor, an airstrip, a national highway, and the availability of clean water and energy.
The company aims to establish the unit within two years and provide direct employment to 5,000 people.
The proposed semiconductor unit will focus on producing memory chips used in various electronic devices such as mobile phones, televisions, laptops, air conditioners, and ATMs.
Currently, India heavily relies on semiconductor imports, amounting to around ₹3 lakh crore annually.
By establishing a local semiconductor fabrication unit, the country aims to reduce its dependence on imports and enhance self-reliance in the semiconductor industry.
To set up the unit, the company requires around 500 to 800 acres of land. While considering potential sites, the company officials visited the industrial park of Tata and other private lands.
However, they found the site near Chhatrapur to be more favorable due to its strategic location and infrastructure.
The establishment of the semiconductor unit is expected to boost industrialization across the Ganjam district and create employment opportunities in the Odisha state.
The semiconductor unit project is aligned with Odisha’s attractive industrial policy, attracting companies like SRAM & MRAM Technologies and Projects India Pvt Limited to invest in the state.
The company has also planned an additional ₹2 lakh crore investment by 2027 to expand the unit. This investment will be in the next phases.