Cyprus Mail
BusinessInternationalTech & Science

Israel’s Tower proposes $8 bln chip plant in India

Semiconductor chips are seen on a printed circuit board in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration/File Photo
Semiconductor chips are seen on a printed circuit board in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration/File Photo

Israel’s Tower Semiconductor (TSEM.TA) has submitted a proposal to India’s government to build an $8 billion chipmaking facility in the South Asian nation, according to national daily Indian Express.

Tower, seeking government incentives for its plan, is looking to manufacture 65 nanometre and 40 nanometre chips in India, the report said.

The company and India’s IT ministry did not immediately respond to requests for comment.

Chip manufacturing is a key plank of Modi’s business agenda, but initial bids to offer $10 billion in incentives to the industry have floundered, with some proposals stalled or cancelled.

Follow the Cyprus Mail on Google News

Related Posts

SEC’s recent Uniswap decision surprises experts, Celestia & new AI Altcoin set to launch with a bang

CM Guest Columnist

Cypriot capital markets to benefit from EMTN dual-listing

Kyriacos Nicolaou

Greek economy surges after decade of pain

Reuters News Service

Ryanair expects to receive 40 Boeing planes by mid-July

Reuters News Service

Cyprus Business Now

Kyriacos Nicolaou

What are the implications of oil’s recent surge on global markets

Reuters News Service