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M. Ramesh

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Chennai Jan. 20 SPEL Semiconductors Ltd is set to begin its next phase of expansion by the end of this month, senior sources in the company told Business Line.

This phase of expansion would cost $7.7 million (Rs 35 crore) and would raise SPEL's capacity for assembly and testing of semiconductor chips from 250 million to 400 million a year.

Only in November, the company completed its first round of expansion, which raised the capacity from 180 million chips to 250 million. The second phase will be in a Special Economic Zone. SPEL Semiconductors had announced in September a Rs 1,280-crore, five-year expansion programme, part of which would be in a SEZ.

As in the case of the first phase of expansion, Indian Overseas Bank will be the principal lender in the second phase too, the sources said.

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