Israel’s Tower Semiconductors proposes $8 billion chip plant in India: Report

Tower Semiconductor: India can get great success in the field of semiconductor manufacturing. Israel’s famous semiconductor manufacturing company Tower has proposed to set up a plant in the country with an investment of $8 billion. If success is achieved in building this plant, the government will get great relief. Prime Minister Narendra Modi (Narendra Modi) has also been trying to promote semiconductor manufacturing in the country for a long time. For this, the government had also announced a scheme of 10 billion dollars in December 2021.

Will make 65 nanometer and 40 nanometer chips in India

According to the report of Indian Express, Israeli company Tower has shown interest in setting up a semiconductor plant in India. The company has also given a proposal of 8 billion dollars to the Indian government. For this the company has demanded incentives from the government. According to the proposal, Tower will make 65 nanometer and 40 nanometer chips in India.

There was a meeting with the company last year

Minister of State for IT Rajeev Chandrasekhar had met Russell C Ellwanger, CEO of Tower Semiconductor, in October last year. Israeli Ambassador Naor Gilan was also involved in this meeting. After the meeting, Rajiv Chandrashekhar had told that discussions have been held regarding semiconductor partnership between India and Tower.

ISC wanted to come in semiconductor scheme

Earlier in the year 2022, International Semiconductor Consortium had applied to become a part of India’s Semiconductor Scheme. The tower is also a part of this ISC. However, at that time Intel had tried to buy Tower Semiconductor. Due to this the Government of India did not accept the application. The government was not sure whether it would allow Tower Semiconductor to remain a part of ISC after the Intel acquisition.

What does Tower Semiconductor do?

Tower Semiconductor provides high value analog semiconductor solutions. It supplies chips in sectors like automotive, medical, industrial, consumer, aerospace and defense. The company manufactures and supplies analog integrated circuits to more than 300 customers around the world. The company’s annual revenue is more than 1 billion dollars.

Micron Technology plant is being built

In June last year, American chip maker Micron Technology had announced to build an assembly and test facility in Gujarat with an investment of $825 million. It will start at the end of 2024.

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