RAIPUR: The Centre has sanctioned significant financial assistance to promote the development of semiconductor and electronics industries at the new capital city Nava Raipur in Chhattisgarh.

The Ministry of Electronics and Information Technology has sanctioned the release of the first instalment of Rs 22.50 crore for the Common Facility Centre (CFC) being set up in Nava Raipur under the Electronics Manufacturing Clusters (EMC 2.0) Scheme.

The CFC project is being developed in Sector-22 of Nava Raipur and implemented by the Nava Raipur Atal Nagar Vikas Pradhikaran (NRANVP).

According to official sources, the fund has been released after obtaining the approval of the President of India, enabling the project to move into the implementation phase.

As per the approved process, the proposal was first examined by the Project Management Agency, Software Technology Parks of India (STPI). Subsequently, the Project Review Committee recommended the release of 30 percent of the approved central financial assistance as the first instalment, which has now been sanctioned by the ministry.