By Bizodisha Bureau, Bhubaneswar, September 7, 2024: RIR Power Electronics Ltd, a leader in India’s semiconductor power electronics technology is setting up India’s first Silicon Carbide manufacturing facility here at a cost of Rs 620 crore.

The groundbreaking ceremony of was held on Friday at the EMC Park at the Info Valley here. The opening of this state-of-the-art facility with a total investment of around Rs 620 crores over three years marks a significant step for Odisha’s entry into the power electronics industry, a statement issued by the office of Chief Minister Mohan Charan Majhi said.

This facility is likely to create over 500 new jobs across various levels, from R&D to factory operations, providing large-scale employment opportunities. It will enhance Bhubaneswar’s industrial landscape by implementing best practices, and Sustainable Energy, and fostering the development of advanced technologies while building a skilled and diverse workforce.

“The establishment of RIR Power Electronics Ltd’s facility is another notable step in our ongoing journey to make Odisha a leading semiconductor hub in India,” the Chief Minister said adding that this new facility will not only create state-of-the-art products but also open up a wealth of opportunities for talented youth, providing them with avenues to work at cutting-edge/technology in Odisha.

“The facility will attract skilled professionals, foster local innovation, drive economic growth, and further solidify Odisha’s position as one of India’s most promising destinations for electronics and semiconductor manufacturing,” the Chief Minister said.

Odisha is one of the few states in India that have introduced a dedicated Semiconductor Policy. This unique and forward-looking policy provides incentives not only to fabrication units but also to semiconductor design and supply chain units spanning all segments of the semiconductor value chain. In addition to the Semiconductor Policy, Odisha’s flagship O-Chip Program stands out as a one-of-a-kind initiative that provides comprehensive support to semiconductor design startups, companies, and academic institutions.

The program will provide companies with access to EDA tools and IPs, market connect, mentorship and training by technical experts, along with a range of other ancillary support. Academic institutions will also be provided research grants for industry-relevant research in semiconductor design. Apart from RIR Power Electronics Ltd., Odisha has received several other investment proposals in semiconductor and related fields for the establishment of new facilities in Bhubaneswar. RIR is also in the process of tying up with IIT, Bhubaneswar for Technical and Research collaboration.