At the ‘Make in Odisha Conclave’, the UK-based Sram and Mram Group announced a Rs 2-lakh crore investment for a semiconductor unit in Odisha. During the Make in Odisha Conclave 2022, Sram and Mram Group Vice-Chairman Gurujee Kumaran Swami announced a Rs 2-lakh-crore investment in Odisha’s semiconductor industry in phases.
Rs 30,000 crore to be invested in the first phase
The group will invest Rs 30,000 crore in the first phase, according to Gurujee Kumaran Swami. Industries Principal Secretary Hemant Sharma said that, “We have got proposal from the group to invest to setup the Semiconductor Unit, but further we have to check the vitality and finalise lots of other things, so we have more meetings on this with the group.”
According to its website, the UK-based Sram & Mram Group specialises in agro-products and information technology, with footprints in a variety of services, verticals, and operations, including Neural Networks, artificial intelligence, hedge fund management, forex management, hospitality services and solutions, IT, media and publishing, embedded systems, and infrastructure. According to the company’s website, it owns a chain of exclusive luxury hotels and resorts in Cambodia and Malaysia.
Inception of the group
The group, which was founded in 1995 by Sailesh Lachu Hiranandani, is the brainchild of Sailesh Lachu Hiranandani. The company claims to have a presence on five continents, over 35 locations, more than 300 employees, and a sales turnover of $800 million in FY2017-2018.
The group, headquartered in the United Kingdom, claims to have branches in Cambodia, South Africa, Indonesia, Malaysia, Bahrain, Georgia, India, and Bangladesh.
