Positioned 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 venture to construct a brand new chip facility that the pair mentioned will bolster India’s place within the semiconductor market by rising home manufacturing.
Positioned within the nation’s western state of Maharashtra, the chip plant will produce analog circuits and wafers, in line with an X put up from Deputy Chief Minister of the Maharashtra state Devendra Fadnavis. Whereas Fadnavis didn’t share any details about the venture’s timeline, he did state that the plant is anticipated to fabricate 40,000 wafers per thirty days within the first section and 80,000 wafers per thirty days within the second section. The ability can even reportedly create greater than 5,000 jobs.
Regardless of Fadnavis’s pleasure, the venture has solely been cleared by the state authorities; Tower Semiconductor and Adani have submitted an software for subsidies underneath the Indian authorities’s chip incentive plan, however this has but to be accredited.
Final 12 months, 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 providers. Following the failed acquisition, Intel dedicated to make investments $300 million within the chip firm.
