India Approves 3 Semiconductor Plants: Rs 1.26 Lakh Crore Investment
Feb 29, 2024 15:52
The Indian government has approved three semiconductor manufacturing units in Gujarat and Assam, with an estimated investment of Rs 1.26 lakh crore. The projects will be spearheaded by Tata Electronics, Tata Semiconductor, and CG Power in partnership with global companies.
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New Delhi, Feb 29 (PTI) The government on Thursday approved proposals to set up three semiconductor units in Gujarat and Assam with an estimated investment of Rs 1.26 lakh crore.
The construction of all three units will start within the next 100 days, Telecom Minister Ashwini Vaishnaw said after the Union Cabinet cleared proposals.
Tata Electronics Private Limited will set up a semiconductor fab in partnership with Powerchip Semiconductor Manufacturing Corp (PSMC), Taiwan. This unit will be constructed in Dholera, Gujarat. The plant will attract Rs 91,000 crore investment.
Tata Semiconductor Assembly and Test Pvt Ltd will set up a semiconductor unit in Morigaon, Assam, at an investment of Rs 27,000 crore.
Vaishnaw also informed that CG Power -- in partnership with Renesas Electronics Corporation, Japan, and Stars Microelectronics, Thailand -- will set up a semiconductor unit in Sanand, Gujarat.
Investment in the Sanand unit is estimated at Rs 7,600 crore.
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