Indian business tycoon Gautam Adani has now shifted focus to semiconductor manufacturing, partnering with Israel’s Tower Semiconductor Ltd. to establish a new plant. This semiconductor plant will be set up in Panvel, Maharashtra, with a total investment of $10 billion (approximately ₹83,947 crore).
On Thursday, Maharashtra’s Chief Minister Eknath Shinde chaired a meeting of the Cabinet sub-committee of the Industry Department, where four major projects were approved. Among these is the Adani Group’s joint venture with Tower Semiconductor for the new semiconductor facility.
What will the plant produce?
According to Maharashtra’s Deputy Chief Minister Devendra Fadnavis, who shared the announcement on X (formerly Twitter), the plant in Panvel will produce analog and mixed-signal integrated circuits. The first phase of the project will see an investment of ₹58,763 crore, followed by an additional ₹25,184 crore in the second phase.
Employment and production capacity
The plant is expected to create more than 5,000 jobs. In the initial phase, it will have the capacity to produce 40,000 wafers per month, which will be doubled to 80,000 wafers per month in the second phase.
Boost to Maharashtra’s industrial landscape
This project is part of Maharashtra’s broader effort to reshape its industrial landscape, aiming to boost employment and economic growth. The Cabinet sub-committee also approved other large investments exceeding ₹1.20 lakh crore, indicating the state’s commitment to becoming a hub for advanced technology and manufacturing.
This strategic investment not only positions Maharashtra as a key player in semiconductor manufacturing but also highlights India’s growing importance in the global tech supply chain, particularly as demand for semiconductors continues to rise across various industries.
With this large-scale semiconductor plant, India is making a significant push towards reducing its reliance on imported chips, furthering its goal of becoming self-sufficient in critical technology sectors. The partnership between Adani Group and Tower Semiconductor Ltd. is expected to bring advanced manufacturing capabilities to India and create thousands of jobs, marking a major milestone in the country’s industrial growth.
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