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Rediff News  All News  » Business » Flextronics to buy stake in SemIndia

Flextronics to buy stake in SemIndia

April 04, 2006 14:31 IST

Flextronics, a provider of contract manufacturing services to electronics industry, has decided to pick up minority stake in SemIndia's $3 billion project to set up a chip manufacturing facility in Hyderabad.

Under the strategic partnership between the two companies, Flextronics will manufacture electronics products for SemIndia, which would make semiconductor chips for various product categories of the former like cell phones, set top boxes and personal computers, Communications and IT Minister Dayanidhi Maran said on Wednesday.

The exact investment that Flextronics will make in the chip manufacturing project was not disclosed.

Apart from Flextronics, other partners in SemIndia project include chip-maker Advanced Micro Devices, Government of India, Government of Andhra Pradesh, and India Semiconductor Association.

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