BNDES approves R$ 143.3 million for Zilia to expand semiconductor production
The BNDES (National Bank for Economic and Social Development) reported this Wednesday, 10, that it had approved financing of R$143.3 million for Zilia Technologies, a manufacturer of semiconductor memory components and data storage devices.
The credit, approved under the BNDES Mais Inovação program, will be invested in the company's factory in Atibaia, in the state of São Paulo.
The resources will be allocated to research, development and expansion of the production of semiconductors for smartphones, computers, tablets, smart TVs, automobiles, printers and security equipment, among others. The project also foresees the expansion and modernization of the Atibaia manufacturing unit.
"Manufacturing and developing semiconductors here in Brazil is a strategic step to reduce dependence on imported components and strengthen national production of these products. Furthermore, local production reduces costs, increases the competitiveness of the domestic market and promotes the training of highly qualified labor. For the BNDES, supporting these investments is essential to bring Brazil closer to the most advanced international standards in the sector", declared the president of the BNDES, Aloizio Mercadante, in a note distributed to the press.
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The project includes the acquisition of production equipment, such as testing, assembly, handling and measuring machines.
According to the development bank, Zilia produces more than 150 million chips and 7 million modules annually, "focusing on memories and storage devices for computers, cell phones and servers".
"The release of approved resources is subject to the formalization of the financing contract and compliance with other obligations and conditions applicable to BNDES contracts, and will respect the schedule defined in the project submitted by Zilia", noted the bank, in the note.
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Source: CNN