California-based #Sanmina- A #Fortune500 firm interested to open an #electronics unit R&D centre in #Odisha
California-based Sanmina- A Fortune 500 firm interested to open an electronics unit R&D centre in Odisha
Global electronics manufacturing services provider Sanmina Corporation is keen to set up a manufacturing facility for printed circuit boards (PCBs) and also establish an R&D (research & development) centre in Odisha.California-based Sanmina, a Fortune 500 firm has previously announced an investment of Rs 1,000 crore on an electronics manufacturing facility in Odisha during the ‘Make in India’ week in Mumbai in February this year.
A delegation from Sanmina is tipped to visit Odisha shortly to explore possibilities of the investment.
“The company officials are likely to visit Odisha. A delegation of the state government led by industries minster Debi Prasad Mishra discussed with the company officials during the visit to the US recently.The company is keen to set a PCB manufacturing unit and an R&D centre in the state as they have committed Rs 1,000 crore investment during the Make In India week held in Mumbai, said a government official.
The company serves original equipment manufacturers in technology-related industries such as communications and computer hardware. Sanmina has nearly 80 manufacturing sites. The company is one of the world’s largest independent manufacturers of printed circuit boards and backplanes.
It serves clients in the fields of communications, computing, multimedia, semiconductors, defense, aerospace, medical applications, and automotive technology. Also, the company provides consulting, design, engineering, logistics, new product introduction, assembly, machining, and fabrication, to produce printed circuit boards, backplanes, cables, injection-molded plastics, enclosures and frames, optics.
Odisha is pulling all stops to lure investors in electronics manufacturing space. It is developing a greenfield electronics manufacturing cluster (EMC) on 207 acres of land on the city’s outskirts.The cluster is expected to house over 100 electronics manufacturing units with an employment potential of 10,000-12,000 jobs.
On the policy front, the state government has unveiled exclusive incentives for ESDM (electronics system design and manufacturing) investors.
Those investors with investment exceeding Rs 200 crore and offering employment potential of over 500 would be entitled to 25 per cent investment subsidy on capital investment subject to a ceiling of Rs 50 crore.Further, if their project is financed by public sector banks, the state government would offer an interest subvention of five per cent. src – smartinvestor