Cyril Amarchand Mangaldas has advised SiCSem on a fiscal support arrangement with the Government of India for setting up India’s first compound semiconductor (SiC) fab and ATMP facility at Info Valley in Odisha’s Khordha district.
The project, being undertaken by SiCSem, a step-down subsidiary of Archean Chemical Industries Limited, is backed by a fiscal support agreement dated May 11, 2026 with the India Semiconductor Mission (ISM), under which the government will extend incentive support towards part-financing the project’s capital expenditure. AZB & Partners guided ISM on this transaction.
The facility will have a committed capacity of 5,000 wafers per month for the SiC fab and 8 million units per month for the ATMP facility. The total estimated project cost is about INR 2,066.70 crore, placing it among the more significant semiconductor manufacturing investments in the state.
The project also fits into the wider semiconductor policy framework that has seen the Centre approve a series of manufacturing units in Odisha and other states under its chip mission. Public disclosures from the government have highlighted the broader objective of building end-to-end semiconductor capability in India, including fabrication, assembly, testing and packaging
CAM’s transaction team was led by partner and co-head, projects – energy & energy transition Ramanuj Kumar, with support from principal associate Shrey Srivastava, senior associate Rohil Kenue, and associate Ananaya Agrawal.
AZB’s deal team was led by partner Malika Anand.
