Semiconductor Fabrication Unit by ISMC

ISMC has declared about  investment of  3 billion dollar in  Karnataka to set up a chip-making plant. India's first semiconductor fabrication unit is expected to generate more than 1,500 direct jobs and 10,000 indirect jobs. ISMC is a joint venture between Abu Dhabi-based Next Orbit Ventures and Israel's Tower Semiconductor. U.S. chip giant Intel Corp has announced plans to acquire Tower.  Chief Minister of Karnataka Shri Bommai is very confident about the project and said, "Like we pioneered IT, BT and startups in India, we will now pioneer in the semiconductor sector too". 

ISMC is one among the three applicants that have proposed to set up semiconductor fab units in the country. Recently they have wrote to the GOI urging it to expedite the incentive approvals necessary to start building a factory by the end of this year.  The consortium has proposed a 3 Billion Dollar  analogue fab along with Tower Semiconductor. In reply the government has also asked ISMC to “submit additional information” on the project plan. As per an industry representative aware of the exchange between ISMC and the government , it was expected approvals would roll out by October. Athough ISMC still waiting for incentive support.  Like ISMC , ISMC , Singapore-based IGSS Ventures has also said earlier that investors were becoming ‘wary and impatient’  and requested the ministry to move faster. IGSS has proposed a Rs 25,000 Crore fab in TamilNadu.

Courtesy : Image by OpenClipart-Vectors,  Shafin Al Asad Protic , Axonite from Pixabay