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Our Bureau

Work on Phase 1 under way

Hyderabad , Oct 3

The Andhra Pradesh Government has deployed a three-member team to help the promoters of the SemIndia Fab City project in facilitating allocation of resources and expects the national semiconductor policy to be announced within three weeks.

The Chief Minister, Dr Y.S. Rajasekhara Reddy, who reviewed the progress of the SemIndia project today, was told that SemIndia has already started work on the Phase I of the project, an ATMP (assembly, test, marketing and packaging) facility, with a team of international and local partners on the project near Hyderabad.

According to a statement from the Chief Minister's Office, SemIndia has engaged the services of the Ramky Group as consultants for facilitating the necessary clearances.

FINANCING FINALISED

Construction of the ATMP plant will start after all the clearances are obtained. The financing of the ATMP project has already been finalised.

The promoters and investors of the SemIndia project and the State Government are awaiting the announcement of the semiconductor policy by the Central Government, which the State expects would be announced within three weeks.

At a meeting attended by senior officials and the SemIndia CEO, Dr Vinod K. Agarwal, the Chief Minister was informed about the incorporation of a special purpose vehicle (SPV) and earmarking of 1,200 acres for the project as agreed upon in the MoU signed on February 16, 2006.

MASTER PLAN

SemIndia has engaged the services of a Singapore firm called Surbana to develop the master plan for the 1,200-acre site; the project promoters have been handed over 300 acres for the development of infrastructure.

The board of the FabCity project includes three directors from the State Government.

More Stories on : Infrastructure | Hardware | Andhra Pradesh

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