Archean Chemical's subsidiary SiCSem executed a Fiscal Support Agreement with India Semiconductor Mission for capital expenditure support.
The agreement formalizes fiscal incentives for India's first Silicon Carbide semiconductor fab with ₹2,067 crore investment.
The facility will have annual capacity of 60,000 SiC wafers and 96 million components targeting EVs and renewable energy sectors.
Project located in Bhubaneswar represents procedural milestone under Government of India's Semicon India Programme.