BHOPAL: US based Cricket Semiconductor will invest $ 1 billion to set up India's first analog electronic chip making plant in Madhya Pradesh "Today we have signed MoU (memorandum of understanding) with Madhya Pradesh government to set up an analog semiconductor wafer fabrication plant with an investment of about $ 1 billion (over Rs 6,000 crore)," Cricket Semiconductor Chief Executive Officer Lou Hutter told PTI.The analog semiconductors are used in all kind of electronic products to connect various components like connecting touch screen of mobile phones with circuit and monitoring mobile phone, battery power etc.The company has undertaken investment under MP government's Analog Semiconductor Fabrication [FAB] Investment Policy approved early this month.The policy provides incentives like free government land, reimbursement for the cost of building the shell (building) of the manufacturing unit, round the clock power supply from two separate power grids and quality water supply at the doorsteps of the FAB units at an internationally competitive price fixed for 10 years.The minimum investment required under policy is of Rs 3,000 crore ($500 million) in the state."It is our great pleasure to announce the intent of US based Cricket Semiconductor to set up India's first Analog fab unit in Madhya Pradesh. The MP government aims the state to serve as the heart of the Indian ecosystem for the ESDM sector, " MP Minister for Science and Technology Bhupendra Singh said.The investment will also be entitled for incentives under Modified Special Incentive Package Scheme (MSIPS) of central government."For the first six months, we will work on detail project report under MSIPS and then we will work on from when to start building the plant. We see demand for electronics is growing and which is almost entirely met through imports. This fab will help in accelerating India's electronic eco-system," Hutter said.He said that initially the company will look for business from foreign companies and gradually tap Indian semiconductor design firms to develop their own product at this plant."Cost of developing analog semiconductor is very less compared to digital semiconductors. The project outlay, at around Rs 6000 crore, is less than one-tenth of a leading edge digital fab. There is lot of potential for all those companies who have been designing their analog semiconductor to develop their product in this plant," Hutter said.Government has already approved setting up of two digital semiconductor plants involving total investment of about Rs 63,000 crore.