Adani Group to Build ₹83,947 Crore Semiconductor Plant in Maharashtra with Israeli Partner
The Adani Group is set to construct a semiconductor fabrication plant with its Israeli partner, Tower Semiconductor Ltd, with an investment of ₹83,947 crore.
Adani GroupSemiconductor PlantTower Semiconductor LtdMaharashtraIndiaReal Estate MaharashtraSep 06, 2024
According to Devendra Fadnavis, Deputy Chief Minister of Maharashtra, the plant will have a production capacity of 40,000 wafers in the first phase and 80,000 wafers in the second, providing 5,000 jobs. The semiconductor plant is expected to be built in three to five years.
The Adani group will fund the investment through its internal funds and debt. The chips manufactured at the new semiconductor facility will be used in drones, cars, smartphones, and other projects.
Semiconductors are a key industry amid a rising tech rivalry between the US and China, and India aims to manufacture semiconductor chips domestically rather than rely on imports. This deal with Adani strengthens Tower Semiconductor's position in the Indian market and provides it a boost after its failed acquisition bid by Intel Corp.
Earlier, the Tata Group partnered with Taiwan Semiconductor Manufacturing Corp to build a ₹91,000 crore ($11 billion) chip fabrication plant in Dholera, Gujarat. The Tata Group's plant was expected to manufacture 50,000 mature chips using 40-nanometer or older technology, primarily for consumer electronics, automobiles, defence systems, and aircraft.
India has also established a $10 billion fund to attract chipmakers, leading US-based memory maker Micron Technology Inc, to build a $2.75 billion facility in Gujarat.
Information
The Adani Group is an Indian multinational conglomerate headquartered in Ahmedabad, Gujarat. It was founded by Gautam Adani in 1988 and has since grown into a diversified business group with interests in energy, resources, logistics, and more.
Tower Semiconductor Ltd is a leading independent foundry of high-value analog semiconductor solutions. Founded in 1993, the company is headquartered in Migdal Haemek, Israel, and has a global presence with facilities in the US, Japan, and other countries.
Frequently Asked Questions
Where will the Adani Group build its semiconductor plant?
The plant will be located at Taloja on the outskirts of Mumbai, Maharashtra.
How much will the Adani Group invest in the semiconductor plant?
The Adani Group will invest ₹83,947 crore ($10 billion) in the plant.
What is the expected production capacity of the plant?
The plant will have a production capacity of 40,000 wafers in the first phase and 80,000 wafers in the second.
How many jobs will the plant provide?
The plant will provide 5,000 jobs.
What is the significance of the semiconductor industry in India?
The semiconductor industry is a key sector in India's growing tech industry, and the country aims to manufacture semiconductor chips domestically rather than rely on imports.
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