Tata Group intends to construct a semiconductor facility in Gujarat.
During an investment summit held on Wednesday, Natarajan Chandrasekaran, the chairman of Tata Sons, revealed that the Tata Group is on the verge of disclosing its intentions to establish a semiconductor fabrication facility in Gujarat. This marks the second significant endeavor by Tata within a short period, following its achievement of becoming the initial Indian firm to produce iPhones by acquiring the Wistrom plant near Bengaluru for an estimated $125 million.
Tata Group is building a semiconductor plant
The comments came at the Vibrant Gujarat Global Summit, a business event held in Prime Minister Narendra Modi’s home state in one of his last major efforts to make investments ahead of a re-election bid.
Chipmaking is a key part of Modi’s business, but initial bids to provide $10 billion in incentives to the chip industry have failed, and some proposals have stalled or been withdrawn.
Tata Group “is in the process of making and announcing the construction of a huge semiconductor plant in Dholera (Gujarat) and we are finalizing negotiations and starting in 2024,” Chandrasekaran said.
The Tata Group will also start construction of a 20 gigawatt battery storage plant in Gujarat in the next couple of months, he added.
South Korea’s Simmtech said at the summit that it will open a chip component factory in Gujarat alongside a US-based Micron semiconductor testing and packaging facility.
(via Reuters feeds)
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