VIDEOCON TO SET UP SEMICONDUCTOR FAB

Financial ChronicleConsumer durables major Videocon Industries announced it will set up a semiconductor fab to manufacture thin-film transistor liquid crystal display (TFT-LCD) in Maharashtra at an estimated project cost of Rs 8,000 crore in a tieup with IBM. The company has applied to the central government for a subsidy of Rs 2,000 crore for the project under the recently announced Semi Conductor Policy, Videocon said in a statement.