Suchi Semicon launches Semiconductor Plant in Gujarat, plans to invest Rs 840 crore in 3 years
Semiconductor Plant: Suchi Semicon launched its first semiconductor plant in Gujarat. The company has started testing and integrating tests. It plans to invest $10 million over the next 3 years. Ashok Mehta, Chairman of Suchi Group and Founder of Suchi Semicon, said that the company has applied for promotion under EPECS (Electronic Components and Semiconductor Manufacturing Promotion) and India Semiconductor Mission, but does not want to stop production while waiting for production. incentives.
Investing Rs 840 crore in 3 years
Ashok Mehta (Chairman of Suchi Group and Founder of Suchi Semicon) said, “We have a fully prepared business plan, and our plan is not just an incentive. We have established a factory to conduct business. Government approval will come when we meet their requirements. We plan to invest 10 million dollars (about R840 crore) in the next three years.”
The Gujarat government has sanctioned 20% incentive for this crop
He said the provincial government has approved a 20% promotion for the institution. Mehta also pointed out that during the semiconductor shortage caused by COVID, Prime Minister Narendra Modi appealed to turn the crisis into an opportunity. Encouraged by this, they decided to enter the semiconductor business. After extensive research with industry experts, they decided to start a firm. Mehta is also the founder of Suchi Industries, a textile company.
The founder of Suchi Semicon, Sheetal Mehta, said that the sale of semiconductors will start in the first quarter of next year. After testing is completed, commercial deployment will begin. In some applications where our components will be used, testing and approval will take about two weeks, and in other cases, it can take 3-4 months. We expect commercial shipments of most applications to begin in the first quarter.
