Adani-Tower Major Investment to Drive India’s Semiconductor Growth in Navi Mumbai
Maharashtra’s cabinet has approved a significant USD 10 billion (Rs 83,947 crore) investment by a joint venture between Israel’s Tower Semiconductor and India’s Adani Group to construct a semiconductor manufacturing facility in Taloja, Panvel. Announced by Deputy Chief Minister Devendra Fadnavis, the facility will be located in Navi Mumbai’s Raigad district, positioning itself as a crucial player in India’s drive to expand its semiconductor industry.
Phase One to Launch with Rs 58,763 Crore Investment and 40,000 Wafer Starts Per Month
The first phase of the project will see an investment of Rs 58,763 crore, enabling the facility to produce 40,000 wafer starts per month (WSPM). In the second phase, an additional Rs 25,184 crore will be invested, doubling the facility’s capacity to 80,000 WSPM. Upon completion, this plant will become India’s second semiconductor manufacturing unit, marking a significant milestone in the country’s technological and industrial development.
Federal Approval Pending as India’s Semiconductor Landscape Expands
Although Maharashtra has granted approval, the project awaits review from the India Semiconductor Mission (ISM) and the Ministry of Electronics and Information Technology. Central government incentives hinge on this approval. The venture comes on the heels of other significant semiconductor developments, including a Rs 3,307 crore outsourced assembly and testing (OSAT) plant by Kaynes Semicon in Gujarat, and a chip fabrication plant by the Tata Group and Taiwan’s Powerchip in Dholera. These projects collectively aim to enhance India’s semiconductor capabilities and reduce dependence on global supply chains.
