BOC to invest Rs120cr in SemIndia Fab City

SemIndia Fab, the promoter of Fab City in Hyderabad, today signed a memorandum of understanding (MoU) with global industrial gases company, BOC Gases, wherein BOC would invest about Rs 120 crore in the project in the form of providing gases and chemical infrastructure and equipment for the wafer fabrication and testing facilities. 

Speaking after signing the MoU at the unveiling of foundation stone for the $3-billion Fab City project, Sanjiv Lamba, managing director (South & Southeast Asia) for BOC, said the company would invest about Rs 120 crore in the project in the form of providing gases and chemical infrastructure and equipment for the wafer fabrication and testing facilities.

On the mode of investment in the project, Lamba said both the companies were discussing the issue and would come out with a suitable model, including the option of equity participation in the project.

$100 million would be invested in the construction of the testing and assembly facility, to be ready in 12 months from the date of commencement of work, Vinod K Agarwal, chairman, president and CEO of SemIndia, said.