Financial Daily from THE HINDU group of publications
Tuesday, Nov 16, 2004
Financial Daily from THE HINDU group of publications Tuesday, Nov 16, 2004 |
|
|
|
|
|
Corporate
-
New Projects Info-Tech - Hardware Korean major to set up chip facility in Hyderabad C.R. Sukumar
Manikonda Jagir (AP) , Nov. 15 A MAJOR semiconductor (chip) manufacturing facility in the private sector to address the needs of consumer electronics manufacturers across the globe would come in Hyderabad soon at an investment of over $1.6 billion (around Rs 7,250 crore). Dr June Min, Chief Promoter of the Korea-based Intellect Inc, a global semiconductor giant that had set up eight major fab centres across the globe, is going to put in a majority portion of investment for the fab facility. The fab facility would be located over a 50 acres site in the `Hardware Technology Park' close to the proposed international airport at Shamshabad near here. Dr Min is currently negotiating with various OEMs across the globe for finalising tailor-made business models for each of them to supply chips from the Hyderabad facility. The negotiations were also on for firming up the consortium partners to be lead by Dr Min's Intellect Inc. Talking to small group of journalists on the sidelines of inauguration of Microsoft India Campus here on Monday, a senior Government official said work on the fab facility would begin early next year and the entire facility would take off either in last quarter of 2006 or first quarter of 2007. The first phase of the project would involve an investment of $600 million, and the second phase would come up at an outlay of $1 billion, the official said. Stating that the finer details pertaining to co-promoters or consortium partners for the project were being worked out, the official said a company was already incorporated for the purpose - India Semiconductor Manufacturing Company (ISMC). The facility would provide direct employment for about 10,000 people and has the potential to provide indirect employment for several thousands more since as many as 250 ancillary units were expected to come up to supply raw materials to the fab facility ranging from high toxic chemicals to wafers, the official said. According to the official, the technology being brought by ISMC would serve the needs of consumer electronics manufacturers for the next decade or so since the fab facility would produce chips up to 200 mm thickness for a wide variety of applications from fast moving consumer goods to electronics and cell phones.
More Stories on : New Projects | Hardware
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|