A semiconductor venture from the Zoho group could come up in Odisha with an investment of ₹3,034 crore.
The company – Silectric Semiconductor Manufacturing Pvt Ltd – formed by the directors of Zoho in March 2024, plans to establish a silicone carbide manufacturing unit in Khurdha district in Odisha at a cost of ₹3,034 crore.
The proposal was discussed by the Odisha government on Thursday, as per a post on X by Sampad Chandra Swain, MoS (I/C) for Industries, Skill Development and Technical Education, Government of Odisha. Swain said that the Odisha High level Clearance Authority (HLCA) approved 12 major industrial projects and half of the investment out of the ₹39,000 crore has been sanctioned.
As per the proposal, Silectric will establish a silicon carbide manufacturing value chain from silicone carbide ingots to wafers to mosfets to modules to modified assembly, marking and packaging facility. The fabrication line will have both captive as well as foundry services model. The unit’s annual capacity will be EPI Wafers – 72,000; mosfets (72,000) and modules (72,000). The company has submitted an application to MeiTY under the Indian Semiconductor Mission. End products will be used as power electronics in segments such EVs, automotive and renewable energy.
Silectric has four directors/key management personnel Navneethan Jai Anand, Radha Vembu, Dandapani Rajendran and Krishnan Ramabadran. These are also directors of Zoho.
Zoho did not respond to businessline’s queries on the project.
In May, Sridhar Vembu, co-founder and CEO of the Chennai/US based Zoho, hinted that the group plans to enter chip-making.
He then said, “Regarding the semiconductor fab news, we are not ready to announce anything yet. All I can say right now is that this technology is vital for our nation and we need companies to step up and make the investment. The government is very supportive and now is the time.”
.The Odisha venture comes at a time when the Centre is making an ambitious plan to make India a major hub for semiconductors. The Tata Group has already taken the lead, while others such as the Vedanta group have announced plans to enter semiconductor manufacturing.
