Execution of Fiscal Support Agreement by SiCSem Private Limited (Subsidiary of Archean Chemical Industries Limited) with the Indian Semiconductor Mission ("ISM")
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Archean Chemical's step-down subsidiary SiCSem Private Limited has executed a Fiscal Support Agreement (FSA) with the India Semiconductor Mission under the Semicon India Programme. The agreement formalises government CapEx support for establishing India's first approved Silicon Carbide (SiC) compound semiconductor fabrication and packaging facility. The project will be located at Info Valley, Bhubaneswar, Odisha, with an investment of approximately Rs. 2,067 crore. The facility will have annual capacity of ~60,000 SiC wafers and ~96 million SiC MOSFETs and diodes, targeting EV, renewable energy, smart grid, 5G, industrial automation, and data centre sectors. This follows ISM approval received in August 2025 and prior funding from the company to Neun Infra for long-lead equipment procurement.
Positive development for shareholders as it secures government fiscal backing for a major semiconductor manufacturing project, though the Rs. 2,067 crore investment is significant and will require careful capital deployment. The stock may see positive sentiment given this strategic milestone.