Jobaaj Stories
Guruji Kumaran Swami, the vice-chairman of SRAM & MRAM, has announced an investment of Rs 2 lakh crores to set up a semiconductor unit in Odisha.
For the uninitiated, the SRAM & MRAM Group was founded by Dr. Shailesh Lachu Hiranandani in 1995. The UK headquartered company has a presence in various other countries like India, Bahrain, Bangladesh, etc., and has core strengths in the Agro-products and IT sectors. Moreover, it has a presence in Neural Networks, Artificial Intelligence, Hedge Fund Management, FOREX Management, Hospitality Services & Solutions, Media & Publishing, Embedded Systems, and Infrastructure as well.
According to the announcement that was made at the Make in Odisha (MIO) conclave, the group will be investing Rs 30,000 crores in the first phase of the total investment amount of Rs 2 lakh crore, higher than the amount proposed by the Vedanta-Foxconn JV semiconductor plant in Gujarat.
Swami and Odisha in-charge Debdutta Singh Deo have reportedly visited CM Naveen Patnaik, Chief Secretary SC Mohapatra, Industries Secretary Hemant Sharma, and other officials to discuss the details of the project.
“We have got the proposal from the group to invest to set up the Semiconductor Unit, but further we have to check the vitality and finalize lots of other things, so we have more meetings on this with the group,” said Hemant Sharma.
The MIO Conclave can be considered a success as the Odisha government signed several MoUs, and received several investment commitments including a direct investment commitment of Rs 8,200 crores which will result in the creation of 40,000 jobs in the state.
Some of the major companies which have pledged commitment or signed MoUs are Intel, Oracle, Global Foundries, Jupiter Solar, Deloitte, IBM, Happiest Minds, Adani Group, EY, and Aaron Capital.
According to reports, the conclave has received an aggregate total commitment of Rs 10.5 lakh crores which will generate over 10 lakh jobs in several sectors.
Article by Gautam Mahapatro.
