HYDERABAD: In the first phase of setting up a production facility in Telangana, Singapore-based PTW Group, which specialises in equipment supply for the semiconductor industry, is prepared to invest `1,000 crore.
A delegation of the company’s Asia division led by managing director Torsten Seifried met IT & Industries Minister D Sridhar Babu at the Secretariat on Monday. The minister assured them that the state government was ready to provide incentives and subsidies under its policies to facilitate their set up in the region.
According to a release, the PTW Group specialises in tools, components, refurbishment, automation, and equipment supply for the semiconductor industry.
Sources told TNIE that the company will present a final proposal soon and will likely set up the facility in the upcoming Pharma City (Fourth City). The PTW Group had plans to establish the facility in China, the Philippines or Thailand but has now earmarked Hyderabad as their final destination.
On the occasion, Sridhar said Hyderabad offers a conducive ecosystem for the semiconductor (chip manufacturing) and allied industries. He also highlighted the city’s strategic advantages for establishing semiconductor-related operations. “Hyderabad boasts a skilled talent pool essential for semiconductor manufacturing. There is no shortage of expertise here,” the minister remarked
He also emphasised the government’s focus on creating a semiconductor cluster in Hyderabad to attract more investments in this critical sector.