The Hindu Business Line : Videocon may set up fab facility

Hyderabad March 11 Videocon Industries is planning to set up a semiconductor manufacturing facility with an investment of over Rs 1,000 crore. However, the company, which has entered into a technology sharing agreement with a global leader, has not yet decided on a location for setting up the unit.

Disclosing this to reporters here on Sunday, Mr Venugopal N. Dhoot, Chairman and Managing Director of Videocon, said the company found the sops offered by the West Bengal Government most attractive so far. The State offered, among others, free land and Sales Tax benefits.

"We have not yet decided where to locate the facility. We are still looking at various options. We will ultimately set up the facility in a State which gives us the maximum benefits," he said.

Mr Dhoot, who is also the President of Assocham, was here in connection with release of the focus paper on Andhra Pradesh. Meanwhile, the company, which had a Rs 200-crore white goods manufacturing facility near here, was contemplating to take up an IT park in an extent of 28 acres with an investment of Rs 350 crore.

"We have started work on the site. We hope to complete the project in two years," Mr Dhoot said.

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