The Odisha cabinet has approved a customised incentive package for RIR Power Electronics Limited (RIR) to establish India’s first silicon carbide (SiC) semiconductor manufacturing facility in the city with a total investment of Rs 618.60 crore.

Announcing the decision of the state cabinet to increase the incentive package from the current 30 per cent to 50 per cent, Chief Minister Mohan Charan Majhi said the company which has already started the project at the Electronic Manufacturing Cluster (EMC) Park in Infovalley, has been asking for more incentives to make the project viable.

He said RIR is India’s sole manufacturer of silicon-based power devices, serving clients like BHEL, ABB and Indian Railways. This project is poised to position Odisha as a leader in semiconductor ecosystem, driving industrial growth, local supply chain development and skilling opportunities.

“We decided in favour of increasing the incentive package by 20 per cent more as the company was looking for better opportunities in other states to set up the facility. The total incentive package is estimated to cost Rs 110 crore which will be paid in two phases,” Majhi told mediapersons after the meeting.