Archean Chemical Industries Limited has informed the Exchange about Execution of Fiscal Support Agreement by SiCSem Private Limited (Subsidiary of Archean Chemical Industries Limited) with the India Semiconductor Mission ("ISM")
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Archean Chemical Industries Limited, along with its subsidiary Neun Infra and step-down subsidiary SiCSem Private Limited, has executed a Fiscal Support Agreement (FSA) with the India Semiconductor Mission (ISM) on May 11, 2026. The agreement formalises government capital expenditure support for establishing India's first approved Silicon Carbide (SiC) based Compound Semiconductor Fab and ATMP facility. The project will be located at Info Valley, Bhubaneswar, Odisha, with an investment of approximately Rs. 2,067 crore. The facility will have an annual capacity of about 60,000 SiC wafers and 96 million SiC MOSFETs and diodes, targeting sectors like Electric Vehicles, Renewable Energy, Smart Grids, 5G, and Industrial Automation. This follows the ISM approval received in August 2025 and prior funding extended by the company to Neun Infra for machinery procurement.
This is a positive development as it secures government fiscal support for a major high-tech manufacturing project. The Rs. 2,067 crore investment in semiconductor manufacturing diversifies the company's business and could create new revenue streams in fast-growing sectors like EVs and renewable energy.