Maharashtra cabinet panel has approved a $ 10-billion (Rs 839.47 billion) investment proposal for a semiconductor manufacturing project to be jointly set up by Tower Semiconductor and the Adani Group at Taloja, Panvel, Raigad district.
The semiconductor manufacturing unit will have a total capacity of 40,000 wafer starts per month (WSPM) in the first phase and an overall capacity of 80,000 WPSM. Of the total investment in the project, Rs 587.63 billion will be infused in the first phase and the remaining Rs 251.84 billion in the second phase.
However, the joint application submitted by Israel’s Tower Semiconductor and Adani Group is still under consideration by the India Semiconductor Mission (ISM) and Ministry of Electronics and Information Technology (MeitY). If approved, the project will be India’s second chip manufacturing facility and the sixth semiconductor plant which either manufactures or tests and packages silicon chips.
