Adani Group Declares $10 Bn Investment In Semiconductor Plant In Maharashtra
The investment is a part of a USD 13.96 billion project that the state has approved, with the goal of adding 29,000 jobs
The Adani Group has declared a major investment in India’s semiconductor sector, committing USD 10 billion for a new semiconductor manufacturing plant in Maharashtra.
On Thursday, Maharashtra's Chief Minister Eknath Shinde revealed in a social media post that the state has approved projects worth USD13.96 billion, expected to create 29,000 jobs.
The centerpiece of this investment is a semiconductor plant spearheaded by the Adani Group in collaboration with Tower Semiconductor. This plant will initially have a capacity to produce 40,000 wafers.
The declaration comes as India continues its drive to attract global semiconductor manufacturers. Despite challenges such as Foxconn’s withdrawal from a USD 19.5 billion joint venture with Vedanta and stalled plans by ISMC, a venture between Abu Dhabi-based Next Orbit Ventures and Tower Semiconductor, the country remains optimistic.
India’s semiconductor market is projected to reach USD 63 billion by 2026.
