Vedanta in talks to chip in with fab unit
Sterlite Technologies, a company promoted by Vedanta Group, may soon foray into the niche market of semiconductor manufacturing.
By Niranjan Bharati, TNN |
NEW DELHI: Sterlite Technologies, a company promoted by Vedanta Group, may soon foray into the niche market of semiconductor manufacturing. The company is in talks with the government for getting fiscal incentives to set up a fab unit in the country.
“The company has recently approached the department of information technology (DIT) for getting fiscal incentives under the government’s semiconductor policy,” a government official said.
When contacted, Sterlite Technologies CEO & director Anand Agarwal said: “Currently these evaluations are on as we constantly evaluate the techno-commercial feasibility of various opportunities that have synergy with our existing business lines in our endeavour to ensure long-term and continued growth for the company.” He, however, said that as of date the company has not taken any firm decisions in this regard.
The company needs to submit the financial proposals and proposed location of the plant with the DIT for getting fiscal incentives from the government under the semiconductor policy.
Sources said the company is currently in the process of preparing these details. It is also evaluating the option of setting up a solar fabrication unit as the government has earmarked fiscal incentives for solar fabs also in the fab policy, they said.
As per the semiconductor (fab) policy, the government would give an incentive of up to 20% of the capital expenditure to companies seeking to set up fab units. The sop would be applicable for capital expenditure during the first 10 years.
“The company has recently approached the department of information technology (DIT) for getting fiscal incentives under the government’s semiconductor policy,” a government official said.
When contacted, Sterlite Technologies CEO & director Anand Agarwal said: “Currently these evaluations are on as we constantly evaluate the techno-commercial feasibility of various opportunities that have synergy with our existing business lines in our endeavour to ensure long-term and continued growth for the company.” He, however, said that as of date the company has not taken any firm decisions in this regard.
The company needs to submit the financial proposals and proposed location of the plant with the DIT for getting fiscal incentives from the government under the semiconductor policy.
Sources said the company is currently in the process of preparing these details. It is also evaluating the option of setting up a solar fabrication unit as the government has earmarked fiscal incentives for solar fabs also in the fab policy, they said.
As per the semiconductor (fab) policy, the government would give an incentive of up to 20% of the capital expenditure to companies seeking to set up fab units. The sop would be applicable for capital expenditure during the first 10 years.
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