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De Core Nanosemiconductor lines up Gujarat chip fab

The company intends to invest Rs 1,100 crore in the next five years for manufacturing LED lamps, including Rs 900 crore on the Gandhinagar plant and Rs 200 crore at Noida.

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De Core Nanosemiconductor, led by Punjab-based technopreneur 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.

The company has a plant for LED lamps coming up in 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, said after laying the foundation stone of the Gandhinagar plant on Wednesday.

“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 said.

The company intends to invest Rs 1,100 crore in the next five years for manufacturing LED lamps, including Rs 900 crore on the Gandhinagar plant and Rs 200 crore at Noida.

It has sufficient funds at its disposal, said Loomba. “Through venture capital and debt from banks, we have enough funds to invest in setting up plants.

IFCI, IDFC, EVI and a few more venture capital companies have invested in De Core Nanosemiconductors. Apart from that, we have taken debt from IDBI Bank and Exim Bank. After a couple of years, we may enter capital market through a public issue.”

“We will have a capacity of producing 400 million chips annually at Gandhinagar and we will be producing 70 lakh LED lamps annually at Noida. But in future, we are very much interested in making chips for high power electronics,” said Loomba.

The company will also make chips for cellular telephones and blue ray components. “We want to make chips for those fifth generation mobile phones in future. These phones will have the capacity to transfer or download data at speeds of more than 40 Mbps. Apart from that, we will also make components for blue ray disc,” he said.

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