Billionaire Gautam Adani has set sight on chip manufacturing and will set up a plant by partnering with Israel's Tower Semiconductor Ltd. with a total investment of $10 Billion (approximately Rs 83,947 crore).
Tower Semiconductor, along with the Adani Group, will set up a plant at Panvel in Maharashtra that will manufacture analog and mixed-signal integrated circuits, Maharashtra Deputy Chief Minister Devendra Fadnavis said in a post on X.
Phase 1 of the investment will entail an investment of Rs 58,763 crore followed by a Rs 25,184 crore outlay in Phase 2. The plant will have a capacity to produce 40,000 wafers per month in Phase 1 which will expand to 80,000 wafers per month after the second phase.
One more BIG news for Maharashtra !
Huge investments of total
₹ 1,20,220 crore approved in today’s Cabinet Sub-Committee Meeting, with CM Eknath Shinde ji !
The detailed list of approved investments is as follows:
✅Tower Semiconductor with Adani Group at Taloja MIDC, Panvel… pic.twitter.com/DVI9z94WyU— Devendra Fadnavis (@Dev_Fadnavis) September 5, 2024
The chip manufacturing plant by the Adani Group and Israel's Tower Semiconductor is set to generate over 5,000 employment opportunities, the Deputy Chief Minister said.
This investment is part of the efforts to reshape Maharashtra’s industrial landscape. The Maharashtra cabinet sub-committee, led by Chief Minister Eknath Shinde, has approved a series of substantial investments, totaling over Rs 1.20 lakh crore.
(Disclaimer: NDTV Profit is a subsidiary of AMG Media Networks Limited, an Adani Group Company)
We Are Only At 10% Of What Mundra Will Eventually Become, Says Gautam Adani. Read more on Business News by NDTV Profit.