SRAM & MRAM Group, a pioneering global technology conglomerate, is pleased to announce itsstrategic engagement with the top 4 leading companies in the semiconductor industry for potential technology collaboration aimed at establishing a cutting-edge Fabrication (FAB) and Testing Facility in Odisha. This bold move marks a significant step forward in advancing India’s technological landscape and fostering self-reliance in semiconductor manufacturing.
Earlier, a MOU was signed on 29th March 2023 between IPICOL, Govt. of Odisha and SRAM & MRAM Technologies for the establishment of a Semiconductor Fab Project in Odisha. The Semicon Fab Unit with a total investment of around two lakh crores. However, in the first phase, the Group will be investing 30,000 Crores. The project will require 500-800 acres of land for establishing the set-up. The company aims to establish the unit within two years and plans to expand the unit in subsequent phases at an investment of 2 lakh crores by 2027. The company is looking for a technical tie-up with some global leaders in semiconductors.
The discussions, which have reached an advanced stage, underscore SRAM & MRAM’s unwavering commitment to forging collaborative partnerships that drive innovation, enhance technological capabilities, and contribute to India’s economic growth. The company’s vision aligns seamlessly with the Government’s “Make in India” and “Atmanirbhar Bharat” initiatives, which emphasize the importance of indigenous manufacturing and technological self-sufficiency.
The potential collaboration with these industry leaders holds immense promise, bringing together a wealth of expertise, resources, and cutting-edge technologies. The strategic alliance aims to Accelerate Technological Advancements, R&D, Skilled Workforce, Promoting Technological Entrepreneurship, etc. This collaborative effort will propel India to the forefront of semiconductor production capabilities while fostering an environment of innovation and research excellence. The FAB and Testing Facility will become a hub for cutting-edge research, fostering breakthroughs in semiconductor design, fabrication, and testing.
Speaking on the development, Guruji Kumaran Swami, SRAM & MRAM Group, quoted, “We are excited about the possibilities that these discussions hold. Collaborating with industry leaders to establish a state-of-the-art FAB and Testing Facility in Odisha is a testament to our commitment to technological advancement and self-reliance. We look forward to collectively driving innovation and contributing to India’s growth.”
“As SRAM & MRAM Group engages in these strategic talks, it reaffirms its dedication to realizing India’s potential as a global semiconductor manufacturing hub. The company remains committed to working closely with its potential collaborators and the Government of India to bring this transformative project to fruition”, expressed Nitin Gupta, Technical Director.
SRAM & MRAM Group remains committed to working closely with the selected companies and the Odisha government to facilitate the realization of this transformative project. The company is enthusiastic about the potential impact on the Indian economy, job creation, and technological advancement. At the FAB unit, the semiconductor company will design and fabricate printed circuit boards, and collaborate with product companies to assemble them. It will also be instrumental in designing and developing, in its own R&D centre.