The Adani Group plans to build a semiconductor fabrication plant with an Israeli partner, in a bid to bolster India’s chipmaking capabilities as semiconductors become a key geopolitical battleground globally, Bloomberg reported.
The conglomerate, led by billionaire Gautam Adani, and Israel’s Tower Semiconductor Ltd. will set up the chip manufacturing facility at Taloja on the outskirts of Mumbai at an investment of $10 billion, Devendra Fadnavis, deputy chief minister of the western Indian state of Maharashtra, said in a post on X Thursday that listed all the approved projects.
The unit is expected to have a production capacity of 40,000 wafers in the first phase, and 80,000 wafers in the second, Fadnavis said in the post, without sharing any timeline for the project.
The project, housed under the group’s flagship and incubator Adani Enterprises Ltd., will be built over three to five years, according to a person familiar with the planning, who asked not to be identified citing rules. The ports-to-power conglomerate will be largely fund the investment through its internal accruals and some debt, the person added.
The chips manufactured at the upcoming facility will be used in drones, cars, smartphones and other mobility solutions.