- The company will set up a semiconductor project in the region by investing about 6 thousand 200 crore rupees .
Chief Minister Dr. Mohan Yadav told the investors to invest in Madhya Pradesh with an open mind, the government will help them in every possible way. A Memorandum of Understanding (MoU) was signed and exchanged between the Department of Science and Technology (Government of MP) and M/s Paras Defense and Space Technologies Private Limited Company in the presence of the Chief Minister. The country head quarter (corporate office) of the company is in Navi Mumbai. The company manufactures optical systems. Chief Minister Dr. Mr. Manjul Sharad Shah, Managing Director of the company and his associates paid a courtesy call on Mr. Yadav at the Chief Minister’s Chamber in Madhya Pradesh Vidhan Sabha on Tuesday. Chief Minister Dr. Yadav also honored the investors.
Chief Minister Dr. Yadav was told by the company officials that they wanted to set up a semiconductor project in Madhya Pradesh. In the initial phase, the company will invest around 6 thousand 200 crore rupees. This project will create more than 2500 direct jobs. He said why the company has selected the land. They will also propose for allotment of this land soon. The establishment of the proposed project will give new momentum to the semiconductor and high technology manufacturing sector in Madhya Pradesh and will also give a significant boost to investment, employment generation and industrial development in the state.
Chief Minister Dr. Yadav, Principal Secretary, Industrial Policy and Investment Promotion Mr. Raghavendra Kumar Singh said that Paras Company has liked the state’s semiconductor policy very much. Principal Secretary, Science and Technology Shri M Selvendram, Managing Director, MP Industrial Development Corporation Limited Shri Chandramouli Shukla and other senior officers were also present on this occasion.
MD AKVN Shri Shukla said that M/s Paras Defense and Space Technologies Limited is one of India’s leading defense and space technology companies, which develops and manufactures indigenous technologies and high-end engineering solutions for the defense, space and aerospace sectors. Paras Defense and Space Technologies Limited is a public company listed on the Indian Stock Exchange and the equity shares of the company are also listed on the National Stock Exchange and the Bombay Stock Exchange. The company has more than 40 years of experience in the defense and high precision manufacturing sector and the current market capitalization of the company is approximately more than 10 thousand crore rupees. The company is working in strategic areas like Optics and Optronic Systems, Defense Electronics, EO/IR Systems, Entry Drone Systems, RF and Microwave Systems, EMP Protection Systems, Quantum Technology, Space Technology and Heavy Engineering. The company’s manufacturing and engineering establishments are operating in the states of Maharashtra, Karnataka and Telangana. This company is providing technical solutions to Ministry of Defence, DRDO, ISRO, Defense PSUs and other major national and international organizations. The company is currently expanding its prospects in the field of semiconductor manufacturing.
MD Shri Shukla said that for business extension, the company’s world-class OSAT (Outsourced Semiconductor Assembly and Test) unit in M.P. I plan to install it. The company needs about 50 acres of land to set up this project. In this regard, the representatives of the company have been shown by MPIDC Zonal Office, Ujjain, a suitable land of about 40 acres area in Phase-II of DMIC Vikram Udyogpuri Limited. The site has been inspected by the senior officials of the company and this land has been initially selected as suitable for the establishment of the project.
