Times of India

EU chip maker to invest $30m in India

SANJAY ANAND

FEBRUARY 19, 2006

NEW DELHI: ST Microelectronics (STM), which is among the leading semiconductor chip manufacturers in the world, will invest about $30 million (around Rs 133 crore) in India over the next couple of years and hire another 300 people this year.

STM is a Franco-Italian venture with annual worldwide sales of $8.9 billion. It makes chips and develops software for cellphones, set-top boxes, DVDs and cars. A lot of these chips are designed in India and STM employs 1,500 people — around 1,400 of them engineers.

“We will continue to invest about $20-30 million every year so in India,” said STM president and CEO Carlo Bozotti in an interview with Times of India. He said Indian engineers contributed to all major chip and software development lines of STM.

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