India Okays $15 Billion of Milestone Chip Plant Investments
India’s government has approved $15.2 billion worth of investments in semiconductor fabrication plants, including a Tata Group proposal to build the country’s first major chipmaking facility.
Prime Minister Narendra Modi’s cabinet approved Tata’s plan to build an $11 billion site that can fabricate about 50,000 wafers per month, technology minister Ashwini Vaishnaw told reporters in New Delhi Thursday. The government also cleared Tata’s separate proposal for a $3 billion-plus chip assembly plant, and a packaging venture between Japan’s Renesas Electronics Corp. and the Murugappa Group’s CG Power and Industrial Solutions Ltd.
Photo courtesy of Louis Reed.
Source: Yahoo Finance (link opens in a new window)
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