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RIL to float SPV for semiconductor foray: Sources

RIL will start work on its fabrication foundry in the next 8-10 months, reports CNBC-TV18, quoting sources. It will float an SPV for semiconductor foray. RIL is looking at acquiring fabrication units in Korea and Taiwan, sources add.

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RIL will start work on its fabrication foundry in the next 8-10 months, reports CNBC-TV18, quoting sources. It will float an SPV for the semiconductor foray.

RIL is looking at acquiring fabrication units in Korea and Taiwan, sources add. The company is talks with Qualcomm, Texas Instruments and Infineon for a tie-up, they informed.

There is not much news from Reliance at this point in time.  What we heard is from the government. We really don't why is Reliance Industries is betting on semiconductor industry. But what we do know is that they have submitted a proposal to the department of Information and Technology seeking to invest up to Rs 30,000 crore. Of course this is going to be in separate things - one, for setting up of a semiconductor chip unit that with a capacity manufacturing of about 70,000 waffles per month. They are planning to invest about Rs 18,500 crore in this. They have sorted subsidy from the government for about Rs 3,400 crore. They yet to get fix on the location - that's what the government said. They are looking at four locations Navi Mumbai, Hyderabad, Harayana and Mysore and they will zero in on any particular location. Typically this depends on which state government will give them a better subsidy, a better deal in terms of land, power, water they are very essential ingredients for semiconductor facilities.

This is a fallout of the semiconductor policy that was announced by the previous IT and Telecommunication Minister Dayanidhi Maran. Information Technology Ministry now informs CNBC-TV18 that close to seven-eight companies have now submitted concrete proposals for manufacturing these includes Moser Baer which intend to invest about Rs 6,000 crore. Even Videocon Industries , which is also planning to buyout Motorola wireless business - they have also applied to the government and are willing to invest about Rs 8,000 crore. So seven-eight companies have sort interest but Reliance Industries is one of them.