Updated January 10th, 2024 at 13:01 IST
Tata to announce semiconductor fabrication plant in Gujarat
Rajeev Chandrasekaran informed that Tata Group is on the cusp of finalising plans to inaugurate a substantial semiconductor facility in Dholera, Gujarat.
Vibrant Gujarat Global Summit: During Vibrant Gujarat Global Summit 2024, Natarajan Chandrasekaran, the chairman of Tata Sons, revealed that Tata Group is nearing an announcement to establish a new semiconductor fabrication facility in Gujarat, this year. The Gujarat investment summit is a part of Prime Minister Narendra Modi's concerted efforts to attract investments ahead of an upcoming re-election campaign.
While semiconductor manufacturing remains a pivotal component of PM’s economic strategy, initial attempts to extend $10 billion in incentives to incentivise the chipmaking sector have encountered some setbacks. Some proposals have faced delays or cancellations, complicating the government's objectives.
20-gigawatts battery storage factory
Chandrasekaran stated, "Tata Group is on the cusp of finalising plans to inaugurate a substantial semiconductor facility in Dholera, Gujarat, with negotiations nearing completion for a prospective launch in 2024." Additionally, he disclosed that Tata Group intends to commence the construction of a battery storage factory with a capacity of 20 gigawatts in Gujarat within the forthcoming months.
Concurrently, South Korea's Simmtech announced its intentions to inaugurate a chip component manufacturing unit in Gujarat. This development aligns with the forthcoming semiconductor testing and packaging facility planned by U.S.-based chipmaker Micron in the same region.
(With Reuters inputs)
Published January 10th, 2024 at 13:01 IST