LONDON De Core Nanosemiconductors Ltd. is planning to spend about 900 crore rupees (about $200 million) building a wafer fab for LEDs in Gandhinagar, Gujurat in the west of India, according to a Business Standard report.
The fab, expected to come on-stream in 2011, is expected to make LEDs for lighting applications as well as lasers for Blu-ray discs at a later stage, the report said. De Core Nanosemiconductors is a subsidiary of De Core Science & Technologies Ltd. (Noida, India).
De Core Science & Technologies was founded in 2004 by Deepak Loomba, a serial entrepreneur who studied Physics and Mathematics at the postgraduate level at Moscow State University and established his first company Continental LLC in Moscow at the age of 23 trading in agricultural products.
De Core already runs a plant in Noida for the manufacture of LED-based lighting systems, the report said. De Core is backed by IFCI Venture Capital Funds Ltd. (New Dehli, India) and IDFC Ltd. (Chennai, India) who have taken equity stakes in the company, the report said. The Industrial Development Bank of India and the Export-Import Bank of India providing loans, the report said.
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