Tata Group plans to build semiconductor plant in Gujarat
At an investment summit on Wednesday, Tata Sons chairman Natarajan Chandrasekaran said that the Tata Group is close to announcing plans to develop a semiconductor fabrication plant in Gujarat. This is the second big move by Tata in the span of a few months after it became the first Indian company to manufacture iPhones after acquiring the Wistrom plant near Bengaluru for approximately $125 million.
The comments came at the Vibrant Gujarat Global Summit, a business event being held in Prime Minister Narendra Modi's home state in one of his last major efforts to draw investments before a re-election bid.
Chip manufacturing is a key plank of Modi's business agenda, but initial bids to offer $10 billion in incentives to the chipmaking industry have floundered, with some proposals stalled or cancelled.
Tata Group "is on the verge of concluding and announcing a huge semiconductor fab in Dholera (of Gujarat), and we are about to complete this negotiations and start in 2024," Chandrasekaran said.
Tata Group will also begin construction of a 20 gigawatts battery storage factory in Gujarat in the next couple of months, he added.
At the summit, South Korea's Simmtech said it would open a chip component plant in Gujarat alongside the upcoming semiconductor testing and packaging facility of U.S. chipmaker Micron.
(With inputs from Reuters)
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