On 31st Oct 2023,RIR Power Electronics Ltd's achieved a significant milestone to boost the state's manufacturing sector, the Government of Odisha has given its approval to RIR Power Electronics Ltd's proposal to invest ₹510.80 crore in the establishment of a state-of-the-art fabrication and packaging facility for Silicon Carbide (SiC) devices.
The investment proposal, which is among the 12 new investment proposals approved by the state-level single window clearance authority, is set to be a major step forward in advancing the electronics industry in the region.
The proposed SiC device fabrication and packaging facility will be located at Info Valley in Khordha, Odisha. Silicon Carbide (SiC) is a high-performance semiconductor material known for its efficiency, durability, and wide range of applications, including power electronics, renewable energy systems, and electric vehicles. This facility will play a vital role in enhancing the manufacturing capabilities of SiC devices in the state.
The investment will not only create job opportunities for the local workforce but will also contribute to the growth of the electronics industry in Odisha. With the government's support and the implementation of this project, the region is poised to become a significant player in the SiC device manufacturing sector.
The approval of RIR Power Electronics Ltd's investment proposal reaffirms the state's commitment to promoting investments, job creation, and industrial growth. It is expected to bring a wave of positive economic impact to the region and solidify Odisha's position as a hub for cutting-edge electronics manufacturing.