Time to break the ice

Israel’s company TSEM.TA and India’s Adani group with an investment of 839.47 billion rupees ($10.01 billion) are starting a joint venture in the western state of Maharashtra.

In October 2023 State Minister for Electronics and IT, Rajeev Chandrashekar requested Tower Semiconductor Ltd. (TSEM.TA) CEO Russel C. Ellwanger for a partnership with India in the Chip manufacturing space.

What makes the project unique?

• It will set up 2 new electric vehicle manufacturing units in the state.
• Skoda-Volkswagen invested 150 billion rupees in it.
• Toyota-Kirloskar would dole 212.73 billion rupees for its plantation.
• Chief Minister Eknath Shinde on Thursday revealed its setup at Panvel, in the district of Raigad.
•  Total investment: For 1st phase 58,763 crore rupees, 2nd phase 25,184 crore rupees, and 83,947 rupees for generating employment of 15,00 people.

Main Motive: TSEM.TA is looking forward to manufacturing 65-nanometer and 40-nanometer Chips in India to be used in sectors like Automotive and Wearable Electronics.

Why Tower Semiconductor Ltd (TSEM.TA)?

The Tower company is the second largest in Israel and 7th in the Global reserves. It has annual revenue over $1 billion rupees and net worth of $356 million. The former integrates circuits using specially processed technologies.

Future Goals: 1. The Tower-Adani will be the second fabrication project in the country, after TATA’s Dholera Plant.

2. After the approval of ISM, the Panvel Plant will be the sixth semiconductor Chip in the country.