Works commenced for Fab City project near Hyderabad

Andhra Pradesh Chief Minister Sri Y. S. Rajasekhara Reddy laid the foundation stone for the $ 3 billion Sem India's Fab City project

Chief Minister Y.S. Rajasekhara Reddy, who unveiled the foundation plaque at Hotel Kakatiya Sheraton, said the upcoming Fab City would be the nucleus for the development and manufacture of semiconductors in the country

Union Minister for IT and Communications Dayanidhi Maran said the Government of India would shortly come out with a comprehensive policy for encouraging semiconductor industry, including provision of incentives and special packages. 

Mr. Maran said as part of the policy the Centre was actively considering providing viability gap funding for setting up semiconductor wafer fabrication units, flat panel displays and other storage devices to give a fillip to the industry

"It is only a matter of weeks before the policy is announced," Mr. Maran said at the function

                                                                                 (Courtesy : The Hindu)