Spel Semiconductor, integrated chip (IC) assembly and testing company, has chalked out an investment budget of $250 million (about Rs 1,150 crore), spread over five years to increase its advance packaging capabilities, its existing capacities and to fund acquisition from 2-3 years from now.

The company’s new leadless molded package (LMP) facility at its plant in Maraimalai Nagar, near Chennai was unveiled yesterday by the union finance minister P Chidambaram. The company had invested $5 million in this new facility.

According to Ar Rm Arun, vice-chairman, the next five-year plan would take the company through an exponential growth curve. The growth plan has already started with the recent $5 million LMP introduction.

The next round is $30 million which will close within the next 6 months. Its growth plan includes introduction of five new packages and expansion of its 3 existing Packages.

Of the $250-million investment, most of the part would be raised through debt, convertibles and and preference capital. It is also planning overseas listing after 2-3 years.