MAHARASHTRA, COMPANIES IN TALKS FOR 2 CHIP PROJECTS

Makarand Gadgil, Mumbai, August 25, 2008
Business Standard

After approving the Videocon Group’s Rs 8,000-crore Liquid Crystal Display (LCD) project, the Maharashtra government is now eyeing two more such projects, which will attract an investment of Rs 16,000-20,000 crore and create around 15,000 jobs.

A senior official of the state industry ministry said, “Talks are currently at the nascent stage and we will not be able to divulge the names of the investors now. However, we can confirm that we are in talks for such projects, which have tremendous potential to create jobs.”

Both the projects are promoted by large Indian corporate groups in joint venture with international leaders in chip manufacturing technology. In one of the projects, the JV partner is a leader in mobile phone chip manufacturing, the official added.

The Maharashtra government has shown the companies sites in Navi Mumbai and Pune and they have conveyed their willingness to set up projects there, he said.

“Whatever may be the obstacles, we are sure that we will able to bring at least one project to the state and make the state another Silicon Valley or Taiwan,” he added.