On Wednesday, at an investment conference, Tata Sons chairman Natarajan Chandrasekaran stated that the Tata Group is almost ready to announce plans to construct a new semiconductor fabrication unit in the Indian state of Gujarat this year.
In one of his final significant attempts to attract investments before a reelection campaign, Prime Minister Narendra Modi made the remarks during the Vibrant Gujarat Global Summit, a corporate gathering hosted in his home state.
One of the central tenets of Modi’s business program is chip production. However, initial attempts to provide $10 billion in incentives to the semiconductor sector have failed, with some plans stalling or being abandoned.
The Tata Group “is on the verge of concluding and announcing a huge semiconductor fab in Dholera (of Gujarat), and we are about to complete these negotiations and start in 2024,” Chandrasekaran stated.
In the next few months, the Tata Group plans to start building a 20 gigawatt battery storage facility in Gujarat, he continued.
During the conference, U.S. chipmaker Micron (MU.O.) announced that it would open a semiconductor testing and packaging facility in Gujarat and a chip component plant by South Korea’s Simmtech (222800. KQ).
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