Videocon, one of the leading players in the consumer electronics and home appliances segment, is planning to make forays into semiconductor segment. To begin with, Videocon would invest close to Rs 1,000 crore on setting up a semiconductor facility in the country. The company is working on a plan to rope in a technology partner and set up a fabrication facility. However, the details of the technology and the location are still being worked out. “We have entered into an agreement with the world’s biggest semiconductor technology patent owner.

The plan is to make a foray a strong foray into the semicon sector,” Videocon’s chairman Venugopal N Dhoot told TOI. However, he refused to reveal the name of the partner since there is a non-disclosure agreement between the both.

Videocon has also taken over the facilities of global electronics company Thomson for manufacture of picture tubes. “Thomson deal too has brought in some technology that will help us pursue the semiconductor plans. We leverage on those strengths,” Dhoot said.

The group is, however, evaluating the suitable locations and a decision would be taken on it shortly, he said. Though several states have a variety of packages for wooing investors including the fab city in Hyderabad, Videocon is trying to negotiate with each of the states and choose the best suitable location.

“In addition to Hyderabad, West Bengal too is offering an interesting package. We are yet to decide. We will go to a location, which is more attractive in terms of incentives and other packages,” he said. Videocon already has a manufacturing facility at the hardware park on the outskirts of Hyderabad. The company has about 48 acres land that was allotted to it during Chandrababu Naidu’s regime. Of this, the company has so far used about 20 acres.

In order to put to use the idle property, the company is planning to set up an IT park. The park, to come up in the next two years, would be set up with an outlay of Rs 350 crore, Venugopal N Dhoot said.

-TOI