Business Update12 May 2026, 08:21 pm
Archean's SiCSem Executes Fiscal Support Agreement with ISM
AI Summary
SiCSem Private Limited, a subsidiary of Archean Chemical Industries Limited, has executed a Fiscal Support Agreement (FSA) with the Indian Semiconductor Mission (ISM) on May 11, 2026. This agreement formalizes the fiscal incentive framework for establishing India's first Silicon Carbide (SiC) based Compound Semiconductor Fab and ATMP facility in Bhubaneswar, Odisha. The project involves an investment of approximately ₹2,067 crore and aims to integrate end-to-end Wafer Fabrication and Packaging capabilities, targeting an annual capacity of ~60,000 SiC wafers and ~96 million SiC MOSFETs and diodes. The facility will cater to sectors including Electric Vehicles, Renewable Energy, and Data Centers.
Key Highlights
- SiCSem executes Fiscal Support Agreement with Indian Semiconductor Mission.
- Project involves ₹2,067 crore investment in SiC semiconductor facility.
- Facility targets annual capacity of 60,000 SiC wafers.
- The plant will produce ~96 million SiC MOSFETs and diodes annually.
- Facility will cater to EV, Renewable Energy, and Data Center sectors.