Situated in India’s western state of Maharashtra, the chip plant will produce analog circuits and wafers
Israel’s Tower Semiconductor has partnered with Indian conglomerate Adani Group on a $10 billion mission to construct a brand new chip facility that the pair stated will bolster India’s place within the semiconductor market by growing home manufacturing.
Situated within the nation’s western state of Maharashtra, the chip plant will produce analog circuits and wafers, in accordance with an X publish from Deputy Chief Minister of the Maharashtra state Devendra Fadnavis. Whereas Fadnavis didn’t share any details about the mission’s timeline, he did state that the plant is predicted to fabricate 40,000 wafers per 30 days within the first section and 80,000 wafers per 30 days within the second section. The power may even reportedly create greater than 5,000 jobs.
Regardless of Fadnavis’s pleasure, the mission has solely been cleared by the state authorities; Tower Semiconductor and Adani have submitted an software for subsidies beneath the Indian authorities’s chip incentive plan, however this has but to be authorised.
Final yr, Intel terminated a $5.4 billion takeover bid for Tower Semiconductor, citing regulatory hurdles. The deal, first introduced in February 2022, was meant to assist scale Intel’s foundry companies. Following the failed acquisition, Intel dedicated to make investments $300 million within the chip firm.