New plant for LED boom in India
According to reports in news wires in India, De Core Nanosemiconductor, led by Punjab-based Deepak Loomba, is setting up what it claims will be the country’s first semiconductor chips plant, at Gandhinagar in Gujarat. The facility will initially manufacture semiconductor chips for light emitting diode (LED) lamps in a bid to capitalise on a growing LED and blue ray markets. The company will invest Rs 1,100 crore over the next five years for manufacturing LED lamps. This will include Rs 900 crore on the Gandhinagar plant and Rs 200 crore at their existing plant at Noida
“The LED lamps plant in Noida is expected to commence in two months. For these LED lamps, we need chips, which we decided to produce in India. Making chips in India will bring down the cost of LED lamps,” Loomba, the company’s MD and CEO. “We are setting up this plant in GIDC Electronic SEZ. We set up the plant on four acres of land and are interested in buying two acres adjacent to it,” he is quoted as saying.
The goal is to have the capacity to produce 400 million chips annually at Gandhinagar and to produce 70 lakh LED lamps annually at Noida.
The company also plans to make chips for mobile phones and blue ray components.