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India Snares First Chip Fab With Israel’s ISMC – Mint

Israel’s ISMC will invest almost $3 billion in India’s first semiconductor fabrication plant in Karnataka state, Mint reported.

Chinese regulators have slowed reviews of several proposed acquisitions by US companies, according to a report by the Wall Street Journal on Tuesday.
Intel's plan to acquire Tower Semiconductor has been delayed by strained Sino-US ties. The WSJ said If two companies in a deal have revenue of more than $117 million a year from China, the merger needs Beijing to sign off on it. Pic: Towersemi.com.


Israel-based ISMC Analog Fab Private Ltd, a consortium between Tower Semiconductor and Abu Dhabi’s Next Orbit Ventures, will invest almost $3 billion in a manufacturing plant in Karnataka state, which will be India’s first semiconductor fabrication plant, Mint reported on Sunday, citing the state government.

The factory is expected to create more than 1,500 direct jobs and 10,000 indirect jobs, state officials said.  Intel announced plans in February to acquire Tower.  ISMC and local conglomerate Vedanta have applied under a $10 billion government incentive scheme to set up computer chip and display operations in India, the report said.

Read the full report: Mint.






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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years.


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