Total project costs $650 millions
Hyderabad, March 30, 2006The US based hardware giant Intel is understood to have agreed to set up its mega semiconductor fabrication unit in Hyderabad. The agreement is likely to be executed on April 5 according to highly placed official sources. Intel will join as a technology partner with Nano-Tech Silicon India Private Limited, promoted by South Korean techno-entrepreneur Dr.P.June Min, at the Rajiv Gandhi Nano Technology Park near Shamshabad. The unit will come adjacent to Sem India's $3 billion Fab City.
The total cost of the project is $650 million of which Intel would bring a package of $200 million including $168 million as debt and $32 million as equity, the sources reveal. It would provide infrastructure, including silicon wafer manufacturing units, technology and patent licensing, training facilities, trial assets, analysis equipment, laboratory, spare parts and R & D tools. The Government would invest $32 million, while Intel would invest an equal amount as equity. Private investors would put in $42 million and UTI Bank $54 million in the form of equity. The execution of equity subscription agreement is likely to be completed by April 29, initial capital payment is expected on May 10 and final payment by June 10. One, the equity tie up is completed, the Government would get all necessary clearances.
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