Tower-Adani JV to set up USD 10-bln semiconductor plant in Maharashtra

The Maharashtra Cabinet panel on 5 September, 2024, approved a Rs 839.47 billion investment proposal by the Tower Semiconductor-Adani Group joint venture (JV) to establish a semiconductor chip manufacturing plant in Panvel, Raigad district. The facility, located in Taloja, will have an initial capacity of 40,000 wafer starts per month (WSPM) in the first phase, with plans to expand to 80,000 WSPM in subsequent phases. The first phase will involve an investment of Rs 587.63…