Archean Chemical Industries Limited has taken a major step in its semiconductor expansion plans through its subsidiary SiCSem Private Limited with the execution of a fiscal support agreement for a silicon carbide semiconductor manufacturing project in Odisha.
Archean Chemical Industries, along with its wholly owned subsidiary Neun Infra Private Limited and step-down subsidiary SiCSem Private Limited, signed the fiscal support agreement with India Semiconductor Mission on May 11, 2026.
The agreement supports the development of India’s first approved silicon carbide (SiC)-based compound semiconductor fabrication and ATMP facility under the government’s Semicon India Programme.The project is proposed to be established at Info Valley in Bhubaneswar, Odisha.
The semiconductor project involves an estimated investment of around ₹2,067 crore and is designed to integrate wafer fabrication and packaging operations under a single facility.
According to the company, the plant is expected to have annual production capacity of nearly 60,000 silicon carbide wafers along with approximately 96 million SiC MOSFETs and diode units annually.
The facility is being developed to cater to high-growth sectors including electric vehicles, renewable energy, smart grids, 5G infrastructure, industrial automation and data centres.
The latest development follows the approval received by SiCSem in August 2025 for the semiconductor initiative.
The company had also earlier extended inter-corporate funding support to Neun Infra Private Limited for advance procurement of long-lead machinery and equipment required for the project.
The agreement marks another major milestone in Archean Chemical Industries’ diversification strategy as the company expands into advanced semiconductor manufacturing and technology infrastructure businesses.
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As of 12 May 2026, at 3:30 PM, Archean Chemical Industries Limited share price closed at ₹593.40 per share, reflecting a decline of 4.87% from the previous closing price.
Archean Chemical Industries is strengthening its presence in India’s semiconductor ecosystem through large-scale silicon carbide manufacturing investments aimed at supporting emerging sectors such as EVs, renewable energy and digital infrastructure.
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Published on: May 13, 2026, 9:21 AM IST
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