STOCK MARKET DESK

Mukesh Ambani-led Reliance Industries has submitted an over Rs 300 billion proposal for setting up two manufacturing facilities under the government's scheme to promote semiconductor technology.

Till now, the government has received seven investment proposals totalling Rs 65,000 crore from six companies. Besides Reliance Industries, Videocon Industries, Moser Baer PV Technologies, Titan Energy System, KSK Energy Ventures Pvt Ltd and Signet Solar Inc have submitted their plans with the Department of Information and Technology (DIT), an official statement said.

Proposals received are for manufacture of wide variety of items like Polysilicon, single/multi-crystalline ingots, wafers, solar cells, solar photovoltaic modules (SPV) liquid crystal display (LCD), integrated circuits-advanced logic/memory/embedded system on chip including assembly, test, mar and packaging facility for semiconductor devices.

"The investments are envisaged over a period of ten years," the statement said. Under the special incentive package scheme, the central government has to provide incentive of 20 per cent capital expenditure during the first 10 years for the units in SEZs and 25 per cent of the capital expenditure in non-SEZ units.