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.