The Hindu Business Line : SemIndia to invest $3 b in new unit with AMD tie-up

CHIPPING IN: Mr Dayanidhi Maran, Minister for IT and Communications, flanked by Dr Hector Ruiz, Chairman and CEO, AMD Inc., USA, and Mr Vinod Agarwal, MD, SemIndia, after signing an MoU in the Capital on Wednesday. — Kamal Narang

New Delhi , Nov. 30

SEMINDIA, a consortium of non-resident Indians, today announced plans to invest $3 billion to set up a semiconductor manufacturing facility in the country in collaboration with chip maker Advanced Micro Devices Inc (AMD).

Announcing the partnership, Mr Vinod Agarwal, Chief Executive Officer, SemIndia, said the project is expected to take off next year and will lead to a world-class industry in India to meet domestic and global demands of semiconductor chips for cell phones, PCs and set-top boxes.

Mr Hector Ruiz, Chief Executive Officer, AMD Inc, said the company will initially transfer high-end micro-processor and logic manufacturing technology to SemIndia and later may also pick up stake in the proposed plant.

The Union Government, through the IT Ministry and the government of the State, where the plant will be located, may also pick up equity in the facility. In any public-private partnership, government (Central or State) can hold up to 24 per cent equity, according to the Indian Companies Act.

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