India, Aug. 7 -- The Government of Odisha has approved fiscal support for Phase 1 of RIR Power Electronics Limited's Silicon Carbide (SiC) semiconductor manufacturing facility in Bhubaneswar. The support was cleared by the Electronics & Information Technology Department, with the Odisha Computer Application Center (OCAC) — the department's nodal agency — notifying the fiscal support agreement, which includes pro-rata disbursement of capital subsidy to the company.
The semiconductor project, which was approved last fiscal year by the State-Level Single Window Clearance Committee (SLSWCC) and the state cabinet, involves a total investment of approximately ?618 crore across both Phase 1 and Phase 2. So far, capital expenditure of ...