Bhubaneswar, Dec 5 (KNN) The United Kingdom-based SRAM & MRAM on Saturday announced their plan to invest Rs 2 lakh crore in Odisha to set up semiconductor unit in the state.

The announcement regarding the same was made during the Make in Odisha (MIO) Conclave, 2022 which concluded yesterday.

Speaking about the plans, SRAM & MRAM Group vice-chairman Gurujee Kumaran Swami and company's Odisha in-charge Debadutta Singh Deo said the group will invest Rs 30,000 crore in the first phase.

As per reports, the company delegation had met Chief Minister Naveen Patnaik earlier and had briefed him on the proposed project. They also discussed in detail about the project with chief secretary SC Mohapatra, Industries secretary Hemant Sharma and other officials.

The Odisha government during the Make in Odisha conclave received large investment commitments and signed multiple MoUs in Electronics and IT. A direct investment commitment of Rs 8,200 crore has been received which is likely to create over 40,000 jobs in the state, an official said.

The big names which made investment commitments or signed MoUs include Intel, Oracle, Global Foundries, Jupiter Solar, Deloitte, IBM, Happiest Minds, Adani Group, EY, and Aaron Capital.  (KNN Bureau)