Silicon Power Group, a company plans to invest 10 billion rupees in the construction of a facility, in Odisha, India. The facility will produce silicon carbide for semiconductor components. Their Indian subsidiary, RiR Power Electronics is expected to commence operations within 18 to 24 months. India’s growing chip market aspires to establish itself as a hub, for semiconductor manufacturing.
U.S.-based Silicon Power Group has announced a substantial investment of 10 billion rupees ($121.73 million) to establish a cutting-edge facility in India’s Odisha state. This facility will be dedicated to producing 150-millimeter silicon carbide, a crucial semiconductor component. The news was released by the chief minister’s office late on Thursday.
The investment will be channeled through the group’s Indian unit, RiR Power Electronics. The company has pledged to initiate operations within the next 18 to 24 months, marking swift progress toward its goals.
Silicon carbide plays a vital role in manufacturing chips utilized in electric vehicles and various industrial power and energy applications. The decision comes at a time when prominent executives from Foxconn, Micron, and AMD, along with other semiconductor firms, are scheduled to attend a conference in Prime Minister Narendra Modi’s home state of Gujarat. The Indian federal government aims to attract significant investments through this event.
Forecasts indicate that the local chip market is set to soar, reaching an estimated worth of $80 billion by 2028, nearly quadrupling its current size of $23 billion. This ambitious growth targets India’s emergence as a prominent semiconductor manufacturing hub, positioning itself to rival established players like Taiwan.
