US-based Silicon Power Group to invest INR 1000 Cr in Odisha

Rutuja Kedare Jul 28, 2023 0

In Bhubaneswar, a 150mm silicon carbide manufacturing facility will be established by the US-based company, Silicon Power Group, with an investment of INR 1000 crore. During their official visit to the USA, the promoter of Silicon Power Group, Harshad Mehta, personally submitted a letter of intent to the Odisha government delegation.

The group’s Indian subsidiary, RiR Power Electronics, will be responsible for making the investment in the manufacturing facility. RiR serves customers in various sectors, including industrial, electric utility, railways, renewables, and defense.

According to official sources, a company team, led by Mehta himself, will visit Odisha within one month, and the company has made a commitment to initiate operations within the next 18 to 24 months.


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Disclaimer: The information contained herein has been compiled or arrived at, based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. The image featured in this article is for representation purposes only and does not in any way represent the project. If you wish the article to be removed or edited, please email editor@biltrax.com.

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