Silectric Semiconductor Manufacturing, a venture backed by Chennai-based Zoho Corp, will invest Rs 3,425.6 crore to set up a manufacturing unit in Karnataka’s electronics manufacturing cluster at Kochanahalli, Mysuru. The project is expected to create 460 jobs.
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This investment is among 10 new and additional proposals worth Rs 9,823 crore cleared by the 64th State High-Level Clearance Committee (SHLCC), chaired by Karnataka chief minister Siddaramaiah on Monday. Collectively, these projects are projected to generate 5,605 jobs across the state. Other major investments include Rs 2,150 crore by Sansera Engineering, Rs 998 crore by DN Solutions India and Rs 847 crore by Sify Data Managed Services.
Silectric’s project is reported to be the first to launch in the Kochanahalli electronics manufacturing cluster, where the state has allocated 234 acres to focus on electronics and semiconductor production.
The company’s move to establish a manufacturing unit in Karnataka follows earlier reports suggesting plans for a manufacturing plant in Odisha. In September, Odisha’s High-Level Clearance Authority, chaired by chief minister Mohan Charan Majhi, approved 12 industrial projects worth Rs 39,271.5 crore, including Silectric’s Rs 3,034-crore silicon carbide device unit in Khurda district.
Zoho founder Sridhar Vembu later clarified that Silectric’s investment proposal for Odisha was still under review by authorities, dismissing reports as “inaccurate”.
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Launched in March 2024, Silectric Semiconductor Manufacturing will focus on producing semiconductors for power electronics, with applications in electric vehicles (EVs), automotive components, and renewable energy. The company’s board includes Zoho co-founder Radha Vembu and Zoho Finance CFO Jai Anand. Zoho founder Vembu had earlier clarified the company is only an investor in Silectric Semiconductor.
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