Adani Group's Rs 83,947 Crore Semiconductor Manufacturing Venture in Maharashtra

The Adani Group, in partnership with Tower Semiconductor, plans a Rs 83,947 crore investment to establish a semiconductor manufacturing plant in Maharashtra. The project aims to produce 40,000 wafers per month initially, scaling to 80,000. This major investment highlights the government's push to reduce dependency on imports and develop the semiconductor industry locally.

The Adani Group, led by billionaire Gautam Adani, is partnering with Israel's Tower Semiconductor to invest Rs 83,947 crore in a new chip manufacturing plant in Maharashtra, according to the state's chief minister. This move marks Adani's debut in the semiconductor sector, expanding their diverse business portfolio.

The facility, to be set up in Taloja near Mumbai, will initially produce 40,000 semiconductor wafers per month, with production doubling in the second phase. Deputy Chief Minister Devendra Fadnavis announced the approval by the state cabinet, emphasizing the project's role in reducing India's reliance on imported semiconductors.

This initiative is a part of Maharashtra's drive to attract high-technology investments, aiming to bolster local supply chains and innovation. The state has also greenlit several other large-scale projects, including electric vehicle manufacturing and textile production, which promise significant employment opportunities and technological advancements.

(With inputs from agencies.)