BENGALURU, India — Consumer electronics maker Videocon Ltd. intends to spend $250 million to build a semiconductor facility in eastern or southern India.
It's unclear whether the plant will be a fab or a packaging and test plant. The company said it has found a technology partner and is scouting sites in West Bengal and Andhra Pradesh.
A decision on location will be based, in part, on the extent of concessions it is offered by local governments, said Venugopal N. Dhoot, chairman and managing director of Videocon.
Bent on becoming a global electronics firm, Videocon is also looking beyond Indian shores to build its business. It recently picked up several color picture tube manufacturing plants from France's Thomson S.A. and is interested in buying a handful of Daewoo Electronics plants.
Videocon, which also said it plans to put up the first LCD panel manufacturing plant in India, is also reportedly in the race to acquire equity in TFT-LCD panel maker, LG-Philips. Others interested in picking up equity include Sharp Corp. and Matsushita Electric Industrial Co.
Videocon's announcement increases the number of companies looking to take advantage of the country's recently released policy on semiconductor and electronics manufacturing.