NEW DELHI: The Maharashtra government approved a USD 10 billion semiconductor investment proposal from a joint venture between Tower Semiconductor and the Adani Group on Friday.
As per Deputy Chief Minister Devendra Fadnavis, the unit will be established in Taloja, Panvel. While the government has approved the proposal, it has not yet received approval from the Union Ministry of Electronics and Information Technology, which has allocated USD 1 billion for semiconductor projects in the country.
As per the reports, the joint application by Tower Semiconductor and Adani Group is still under consideration by the India Semiconductor Mission (ISM) and the IT ministry.
According to the reports, the unit located in Navi Mumbai suburbs of Raigad district will have an initial overall capacity of 40,000 wafer starts per month (WSPM) and a capacity of 80,000 WSPM. Of the total investment, Rs 58,763 crore will be allocated to the first phase and Rs 25,184 crore to the second phase, deputy chief minister said.
If approved, this project will be the country’s second chip manufacturing facility and the sixth semiconductor plant for manufacturing or testing and packaging silicon chips. Earlier this week, the government had approved a Rs 3,307 crore outsourced assembly and testing (OSAT) unit proposal by Mysore-based Kaynes Semicon.
The OSAT unit will be set up in Sanand, Gujarat, with a capacity of 6.3 million chips a day. So far, the government has approved several semiconductor projects, including a chip fabrication unit in Dholera, Gujarat, and four chip packaging units: three in Sanand, Gujarat, and one in Morigaon, Assam. The cumulative investment in these projects is Rs 1.50 lakh crore.