The government of Odisha, via its Electronics and Information Technology (E&IT) department, has officially sanctioned fiscal support for phase 1 of Ruttonsha International Rectifier (RIR) Power Electronics Limited’s silicon carbide (SiC) semiconductor manufacturing project in the Odisha.
The Odisha Computer Application Centre (OCAC), has released a notification for the fiscal support agreement, enabling pro-rata disbursement of the capital subsidy for the ongoing project.
Further, the initiative, with a total investment of about Rs 6.18 billion, had earlier secured clearance from the State-Level Single Window Clearance Committee (SLSWCC) and received the state cabinet’s nod in the previous fiscal year.
In the current phase, a capital expenditure of Rs 650 million has been made, qualifying the company for a capital subsidy of Rs 320 million under the state policy.
