Adani Group and Tower Semiconductor to jointly invest $10 billion in India to build wafer fab

On September 9, according to the Deputy Chief Minister of Maharashtra, India, Devendra Fadnavis, Beijing time on the 5th of this month, the Indian giant Adani Group and the Israeli wafer foundry Tower Semiconductor plan to build a wafer factory in the state.

The wafer fab will be located in Panvel near Mumbai, the capital of Maharashtra, and will target analog and mixed-signal semiconductor products. It will create more than 5,000 jobs and have a total investment of US$10 billion (IT Home Note: approximately 839.47 billion Indian rupees at the exchange rate at the time, currently approximately RMB 71.051 billion).

The wafer factory will be built in two phases. The first phase will have an investment of US$7 billion and a monthly production capacity of 40,000 wafers. The second phase will have an additional investment of US$3 billion, doubling the monthly production capacity to 80,000 wafers.

Foreign media Bloomberg quoted sources as saying that the wafer factory project jointly developed by Adani Group and Tower Semiconductor will be completed within 3 to 5 years, and the chips produced will be used in products such as smartphones, drones and automobiles.

Devendra Fadnavis also mentioned two other smaller investments in the new energy vehicle sector:

• Skoda-Volkswagen's electric and hybrid car plant in Pune, with an investment of 150 billion rupees (currently about 12.675 billion yuan), will create more than 1,000 jobs;

• Toyota Kirloskar's hybrid electric vehicle, plug-in hybrid electric vehicle, fuel cell vehicle and battery electric vehicle plant in Aurangabad has an investment of 212.73 billion rupees (currently about 17.975 billion yuan) and can create more than 8,800 jobs.