Infrastructure behemoth GMR Group has shown interest in setting up a semiconductor fabrication unit (fab) — a complex technology project costing about Rs 25,000 crore, out of which 40 per cent is sponsored by the Centre. According to two officials aware of the matter, GMR has approached the Department of Electronics and Information Technology (DEIT) and is currently looking to partner technology companies interested in the project.GMR’s entry into the race could queer the pitch for its corporate rival Jaypee Associates and home-grown chip firm Hindustan Semiconductor Manufacturing Corporation (HSMC), which have been in the fray to set up fab units since 2011. Jaypee and HSMC were given the ‘in-principle’ approval by the Cabinet in September this year to build two fab units in the country, costing upwards of Rs 50,000 crore.

Source : http://www.business-standard.com/article/companies/gmr-in-race-to-set-up-semiconductor-unit-113111800775_1.html

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