Corporate News
The Electronics & Information Technology Department, Government of Odisha, has approved fiscal support for Phase 1 for RIR Power Electronics towards its Silicon Carbide (SiC) semiconductor manufacturing facility in Odisha.
Odisha Computer Application Center (OCAC), the nodal agency for Electronics & Information Technology Department, Government of Odisha has approved and notified the fiscal support agreement for pro-rata disbursement of capital subsidy to the Company.
This project was approved by the State-Level Single Window Clearance Committee (SLSWCC) and the state cabinet in last fiscal year with a total project cost of ~Rs 618 crore for both, phase-1 and phase-2.
Project Financials and Status:
- Total project cost: Rs 618 crore
- Capital expenditure incurred: Rs 65 crore and eligible government capital subsidy: Rs 32 crore
'We extend our sincere gratitude to the Government of Odisha for their forward-thinking support in helping bring this first-of-its-kind SiC semiconductor facility to life. Their backing empowers us to introduce advanced technologies and modern manufacturing capabilities to the state. This development lays a strong foundation for innovation, employment generation, and energy-efficient solutions in electric vehicles, renewables, power electronics, and industrial automation across India,' said Dr. Harshad Mehta, Chairman & Director, RIR Power Electronics.
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