Cyril Amarchand Mangaldas advised SiCSem Private Limited on availing fiscal support from the Government of India
The leading law firm in India, Cyril Amarchand Mangaldas (“CAM”) advised SiCSem Private Limited (“SiCSem”), a step-down subsidiary of Archean Chemical Industries Limited, on availing fiscal support from the Government of India for the development of India’s first compound semiconductor (SiC) Fab and ATMP facility. The project is being established at Info Valley, District Khordha, Odisha, with a committed capacity of 5,000 WSPM for SiC Fab and 8 million units per month for SiC ATMP, and an estimated project cost of approximately INR 2,066.70 crore.
Pursuant to the Fiscal Support Agreement dated May 11, 2026, entered into among the India Semiconductor Mission (ISM), SiCSem, Neun Infra Private Limited (holding company of SiCSem) and Archean Chemical Industries Limited, the Government of India, through ISM, will extend fiscal incentives towards part-financing of the capital expenditure for the project.
The CAM team provided end-to-end support to SiCSem in availing the fiscal incentive, including negotiation and finalisation of the Fiscal Support Agreement and other financing documents.
The transaction was led by Ramanuj Kumar (Partner & Co-Head, Projects – Energy & Energy Transition), with support from Shrey Srivastava (Principal Associate), Rohil Kenue (Senior Associate) and Ananaya Agrawal (Associate).
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