Maharashtra Approves Rs 83,947 Crore Semiconductor Plant by Tower-Adani JV

India's second chip plant is expected to be soon a reality. The Maharashtra cabinet approved a Rs 83,947 crore investment proposal on Thursday. It is a joint project; Tower Semiconductor and the Adani Group are the investors. The project will be built on the Taloja site in Panvel. The said collaboration at Taloja in Panvel will establish a semiconductor unit. Talking about this development, Devendra Fadnavis, the state's deputy chief minister, informed that on social media platform X.
Raigad district, in the Navi Mumbai suburbs, will host the semiconductor manufacturing unit. It is expected to start with the production of 40,000 wafer starts per month (WSPM) in the first phase. The total capacity is planned to be maxed out at 80,000 wafers in the second phase.
Total investment on the project, as per Fadnavis, has been allocated Rs 58,763 crore in Phase I and Rs 25,184 crore in Phase II. According to the sources from the Ministry of Electronics and Information Technology, and the Economic Times could reveal that the project was passed by the state level but the powerless board of India is refusing to step into t
Furthermore, the report highlights a news story of Gautam Adani, a 70-year-old Adani Group chairman, he and his children and nieces would control the business.
"Apart from the central government, individual states have the power to set up their semiconductor units," a senior official noted. By the by, the official focused that "each one of the candidates wishing to profit from the government conspire motivations must hold up for the endorsement from the ISM." If approved, the project will be India's second chip manufacturing facility and the sixth semiconductor plant that either produces or tests and packages silicon chips.

This week, the Union Cabinet's decision was approved of a project by Mysore-based Kaynes Semicon for an outsourced assembly and testing facility to the tune of Rs 3,307 crore. The establishment of the OSAT unit in the Sanand, Gujarat plant, with a design capacity of 6.3 million chips per day, is the company's main plan.

The government-authorized economy already houses five semiconductor projects in India. For instance, besides the Dholera chip fabrication unit, four chip packaging units are also being built. While the three Sanand-based packaging units and one Morigaon, Assam-based unit are equipped with the respective technology of chip intermediate-level assembly and testing, the two developers will get the investment. The total estimated investment in these units would form the sum of Rs. 1.50 Lakh crores.

One of the semiconductor projects is currently under construction in Dholera, which is a partnership between Tata Power and Powerchip from Taiwan, which is scheduled to produce 50,000 WSPM.