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Maharashtra says Tower-Adani to set up $10 billion semiconductor unit

Economic Times

Economic Times · 11m ago

Maharashtra says Tower-Adani to set up $10 billion semiconductor unit

The Maharashtra cabinet panel has approved a $10 billion investment proposal from the Tower Semiconductor-Adani Group joint venture to establish a semiconductor chip manufacturing unit in Taloja. The facility will have a total capacity of 40,000 wafer starts per month in the initial phase and 80,000 wafer starts per month overall. The project is still under consideration by the India Semiconductor Mission and the Ministry of Electronics and Information Technology. If approved, it will be India's second chip manufacturing facility and the sixth semiconductor plant in the country.

Related News

Semiconductor mission may Get $10billion booster shot

Economic Times

Economic Times · 11m ago

Semiconductor mission may Get $10billion booster shot

The Indian Semiconductor Mission may receive a second budgetary allocation of up to $10 billion. This funding will be needed if the government approves a chip fabrication unit by Israeli firm Tower Semiconductor and the Adani Group, as well as other proposed projects currently under evaluation. The first phase of the Indian Semiconductor Mission has already exhausted its initial funds, including approvals for a chip fabrication unit by the Tata Group. The Maharashtra state government has recently approved a $10 billion semiconductor fab unit by Adani Group and Tower.

India Reviews $21 Bn Proposals To Fast Track Chip Manufacturing Market

Inc42 · 1y ago

India Reviews $21 Bn Proposals To Fast Track Chip Manufacturing Market

Tower Semiconductor from Israel and Tata Group from India have proposed large-scale chip manufacturing projects in the state of Gujarat, with a combined investment of $17 billion. Tower Semiconductor plans to scale up its plant to eventually produce 80,000 silicon wafers per month, while Tata Group intends to construct a chip fabrication unit and a chip-packaging plant. These proposals are part of the Indian government's efforts to boost chip manufacturing within the country, which is projected to reach a market value of $55 billion by 2026.

Is Adani's semiconductor play a long-term game?

Livemint

Livemint · 11m ago

Is Adani's semiconductor play a long-term game?

The Adani group is planning to manufacture microchips for its own businesses and for global and domestic customers at a fabrication plant in Maharashtra. The conglomerate has partnered with Israel's Tower Semiconductor for this project, which aims to have a total capacity of 40,000 wafer starts per month. Adani hopes to tap into the fabless model, where companies design chips and have them manufactured by another company. The chip business is expected to become one of Adani's largest and will cater to government contracts in various sectors. This move aligns with India's goal of becoming a major player in the semiconductor industry.

Centre to expand semiconductor scheme, looks to get raw material suppliers: ISM chief

Economic Times

Economic Times · 11m ago

Centre to expand semiconductor scheme, looks to get raw material suppliers: ISM chief

The Indian government plans to expand its semiconductor chip fabrication and packaging scheme under the second phase of the India Semiconductor Mission. Around 20 proposals have been made by semiconductor chip fabrication units, display fabrication companies, raw material suppliers, and chip packaging companies. The goal is to attract more investment in the sector, promote the growth of the semiconductor industry, and strengthen the ecosystem by bringing in other companies such as raw material suppliers and gas companies. Currently, a proposal by Tower Semiconductor to set up a chip fabrication unit is under consideration.

Cabinet greenlights Tata Group's chip fab unit in Gujarat; first semicon plant in northeast approved

Economic Times

Economic Times · 1y ago

Cabinet greenlights Tata Group's chip fab unit in Gujarat; first semicon plant in northeast approved

The Indian government has approved the construction of three semiconductor chip fabrication units in Gujarat and Assam, with an estimated investment of INR 1.26 lakh crore (approximately $17 billion). Tata Electronics will set up a semiconductor fab in partnership with Powerchip Semiconductor Manufacturing Corp (PSMC) in Gujarat, attracting an investment of INR 91,000 crore. Tata Semiconductor Assembly and Test will establish a unit in Assam with an investment of INR 27,000 crore. Additionally, CG Power will collaborate with Renesas Electronics and Stars Microelectronics to set up a semiconductor unit in Gujarat with an investment of INR 7,600 crore.

Adani Group plans $3-billion push for new clean-energy business

Livemint

Livemint · 1y ago

Adani Group plans $3-billion push for new clean-energy business

Indian conglomerate, the Adani Group, is planning to invest INR 25,000-27,500 crore ($3 billion) in building its first pumped-storage hydropower (PSH) facility. Adani Green aims to establish 5 GW of PSH capacity in the next five years and eventually increase it to 25 GW, which will take the group's total green-energy capability to 70 GW. The PSH generation facilities will be set up in Maharashtra, Andhra Pradesh, Tamil Nadu, and Telangana. PSH is gaining popularity among power companies as it is capable of supplying electricity consistently, unlike solar and wind energy.

Zoho suspends $700-mn chipmaking plan in latest setback for India

VCCircle

VCCircle · 4m ago

Zoho suspends $700-mn chipmaking plan in latest setback for India

Zoho has suspended its $700-million chip manufacturing plans due to difficulties in finding a suitable technology partner for the complex process, marking a setback for India's semiconductor ambitions. This follows billionaire Gautam Adani's group pausing its $10 billion chip project with Tower Semiconductor. Zoho's founder, Sridhar Vembu, had envisioned a $400-million investment in Karnataka to diversify operations. The suspension poses challenges to India's goal of becoming a global chip manufacturing hub.

India Set To Host Two Multi-Billion Dollar Semiconductor Plants: MoS IT Announces

OutlookIndia

OutlookIndia · 1y ago

India Set To Host Two Multi-Billion Dollar Semiconductor Plants: MoS IT Announces

India is set to establish two semiconductor fabrication plants with multi-billion dollar investments, as well as several chip assembly and packaging units. Rajeev Chandrasekhar, Minister of Electronics and IT, confirmed that Tower Semiconductors from Israel has proposed an $8 billion project, while Tata Group has also submitted a project. The government has received four proposals for semiconductor manufacturing plants and 13 for chip assembly and testing units. India aims to become a global leader in electronics manufacturing and hopes to achieve $300 billion of electronics manufacturing by 2026-27.

India approves $15B in semiconductor plant investments

TechCrunch · 1y ago

India approves $15B in semiconductor plant investments

India has approved a $15.2 billion investment to build three semiconductor plants, including its first semiconductor fab facility, in an effort to compete with China and Taiwan in the chip race. The plants will focus on general-purpose applications rather than AI chips. The first fab facility will be set up by Tata Group and Taiwan's Power Chip in Gujarat. The government has also approved an investment in a semiconductor assembly unit in Assam and a specialized chip facility in Gujarat. These investments aim to boost India's domestic semiconductor sector and generate employment opportunities.

Adani plans $3 billion outlay to launch semicon business

Livemint

Livemint · 10m ago

Adani plans $3 billion outlay to launch semicon business

Indian conglomerate Adani Group is planning a $3bn initial investment in semiconductor manufacturing over the next two to three years, according to anonymous sources. The company is reportedly in discussions with two Israeli technology firms to establish separate joint ventures. The total investment could reach $7-8bn, with the funds used for setting up a manufacturing facility and technology transfer. The first semiconductor facility is expected to be operational by 2027, with a potential location in Maharashtra. The Indian government has expressed a desire to reduce the country's reliance on imports, particularly from China, in the semiconductor sector.

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