Key takeaways
- SRAM & MRAM Group plans a substantial investment in Odisha to establish a semiconductor manufacturing unit.
- The project is expected to create over 40,000 jobs, significantly boosting local employment.
- The investment will be phased, starting with INR 30,000 crore in the initial phase.
- The Odisha government is collaborating with global companies to enhance its IT and semiconductor sectors.
- Intel's involvement will introduce advanced technologies and foster innovation in the state.
Sram & Mram Group, a UK-based conglomerate, announces INR 2 lakh crore investment in Odisha to set up a semiconductor manufacturing unit at the Make in Odisha (MIO) Conclave, 2022.
The group’s vice-chairman Gurujee Swami, and Odisha in-charge, Debadutta Singh Deo, said that they would invest INR 30,000 crore in the first phase. Earlier, the team met Chief Minister Naveen Patnaik and other senior officials, briefing them on the proposed project.
An official said that a direct investment commitment of INR 8,200 crore had been received, which will create over 40,000 jobs in the state.
At the MIO Conclave, the Odisha government also announced several large investments and signed multiple MoUs with companies like Intel, Oracle, Jupiter Solar, Deloitte, IBM, Happiest Minds, Adani Group, EY, Aaron Capital, and several others in IT and Electronics.
Global Foundries, the world’s leading semiconductor manufacturers, will collaborate with the state government to facilitate curriculum design and training for semiconductor manufacturing in engineering schools, set up innovation labs, and foster design expertise among start-ups.
An MoU was signed by RailTel, a CPSU under the Ministry of Railways, and the state government to establish a neutral submarine cable landing station in Puri. This will enhance data connectivity and support the continued expansion of the state’s IT sector.
Among a slew of announcements, Intel is also set to make it possible for the state to experience cutting-edge technologies like Industry 4.0, IoT, AI/ML, 5G Communication, Wireless Sensor Networks, AR/VR/XR, and more, in real-time and serve as a testing ground for innovators.
Chief Minister Naveen Patnaik said that the conclave generated investment intents of INR 10.5 trillion, with an employment potential of over 10 lakh.
