SPEL Semiconductor, integrated circuit (IC) assembly and Test Company, plans to enter into semiconductor design in the next couple years. The company, which is part of the Chennai-based SPIC Group,would create a library of design models for companies to choose from.SPEL has so far focussed only on assembly testing of IC, which is a small electronic device made out of semi-conductor material. The architecture of the required circuit is designed using advanced software tools. The main features include circuit/layout design ,verification and logic design. The $226-billion global semi-conductor industry comprises four segments-design,fabrication,assembly and testing. Some of the domestic software companies have been doing semiconductor design,and globally companies, such as IBM and Texas Instruments are major players in the sector.However ,the country has no presence in fabrication,which requires an investment of over $3 billion in a plant. The company is increasing its plant capacity to 330 million units from the existing 180 million units.It is also planning to raise $10 MILLION(Rs 45 crores) to finance the expansion. It is looking at debt funds ,and would also consider convertibles. The company is raising $5 million from banks in a couple of months.