News Brief
Three Semiconductor Projects Approved By Cabinet Set To Be Launched Next Week, Plant Construction In 60-70 Days
An electronics component. (File Photo)
The much-anticipated semiconductor projects, greenlit by the Union Cabinet recently, are set to commence with ceremonial launches slated for next week.
This development comes shortly after the Union Cabinet had approved the proposals, which entail investments totaling $15.14 billion.
The key projects include a $11 billion semiconductor fab facility, which will be the country's first, to be constructed by the Tata Group in Dholera, Gujarat.
Another project proposed by the conglomerate involves a chip assembly, testing, marking, and packaging facility in Morigaon, Assam, with an investment of Rs 27,000 crore.
Additionally, the Murugappa Group's CG Power will be establishing a chip assembly facility in Sanand, Gujarat, at a cost of Rs 7,600 crore.
Construction of these plants is expected to commence within 60-70 days.
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The inauguration events will be attended by chief ministers, union ministers, government officials, and corporate executives, as reported by Economic Times.
The Tata Group has partnered with Taiwan’s Powerchip Semiconductor Corp for the Gujarat project, while CG Power has collaborations with Japan's Renesas and Thailand's Stars Microelectronics for the Sanand project.
Union IT and Electronics Minister Ashwini Vaishnaw has confirmed that all necessary clearances and land allocations for the semiconductor plants are being expedited.
Land has already been identified and demarcated, and allocations are expected to be finalised soon, he said.
The projects, approved on 1 March, involve investments of Rs 126,000 crore ($15.14 billion), with the central government providing subsidies under the India Semiconductor Mission.
These initiatives are expected to create 26,000 advanced technology jobs and 100,000 indirect jobs.
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