Govt approves $10 billion semiconductor project by Tower and Adani
ECONOMY & POLICY

Govt approves $10 billion semiconductor project by Tower and Adani

In a significant move, the Maharashtra government, led by Chief Minister Eknath Shinde, has approved a $10 billion semiconductor manufacturing project by Israel's Tower Semiconductor and the Adani Group. The project, to be set up in Panvel, Raigad district, will be executed in two phases with a total investment of Rs 849.47 billion and is expected to create 15,000 jobs. This decision comes just ahead of state elections and signals a major push for semiconductor manufacturing in India.

Apart from the semiconductor project, the Maharashtra cabinet sub-committee also approved three other major projects. These include electric vehicle (EV) manufacturing plants by Skoda Auto Volkswagen India in Pune (Rs 120 billion investment, creating 1,000 jobs) and Toyota Kirloskar Motor in Chhatrapati Sambhajinagar (Rs 212.73 billion investment, creating 12,000 jobs). Raymond Luxury Cottons will also set up a textile plant in Amravati, investing Rs 1.88 billion.

The semiconductor project is seen as a significant win for Maharashtra after Vedanta-Foxconn's semiconductor plant plans in the state were scrapped in 2022. Chief Minister Shinde highlighted that these projects will not only generate employment but also elevate Maharashtra's status as a key player in semiconductor and EV production.

While the state government has given the green light, the Ministry of Electronics and IT (MeitY) has yet to approve Tower Semiconductor and Adani’s application for central subsidy under the India Semiconductor Mission. However, this collaboration marks a critical step toward boosting India's semiconductor capabilities amid global demand.

The announcement also addresses earlier political controversies when Vedanta-Foxconn shifted its $19.5 billion semiconductor project from Maharashtra to Gujarat. This had sparked criticism of the Shinde-led government, which is now aiming to make Maharashtra a hub for advanced manufacturing with these new projects.

(The Indian Express)

In a significant move, the Maharashtra government, led by Chief Minister Eknath Shinde, has approved a $10 billion semiconductor manufacturing project by Israel's Tower Semiconductor and the Adani Group. The project, to be set up in Panvel, Raigad district, will be executed in two phases with a total investment of Rs 849.47 billion and is expected to create 15,000 jobs. This decision comes just ahead of state elections and signals a major push for semiconductor manufacturing in India. Apart from the semiconductor project, the Maharashtra cabinet sub-committee also approved three other major projects. These include electric vehicle (EV) manufacturing plants by Skoda Auto Volkswagen India in Pune (Rs 120 billion investment, creating 1,000 jobs) and Toyota Kirloskar Motor in Chhatrapati Sambhajinagar (Rs 212.73 billion investment, creating 12,000 jobs). Raymond Luxury Cottons will also set up a textile plant in Amravati, investing Rs 1.88 billion. The semiconductor project is seen as a significant win for Maharashtra after Vedanta-Foxconn's semiconductor plant plans in the state were scrapped in 2022. Chief Minister Shinde highlighted that these projects will not only generate employment but also elevate Maharashtra's status as a key player in semiconductor and EV production. While the state government has given the green light, the Ministry of Electronics and IT (MeitY) has yet to approve Tower Semiconductor and Adani’s application for central subsidy under the India Semiconductor Mission. However, this collaboration marks a critical step toward boosting India's semiconductor capabilities amid global demand. The announcement also addresses earlier political controversies when Vedanta-Foxconn shifted its $19.5 billion semiconductor project from Maharashtra to Gujarat. This had sparked criticism of the Shinde-led government, which is now aiming to make Maharashtra a hub for advanced manufacturing with these new projects. (The Indian Express)

Next Story
Infrastructure Transport

Anand Vihar and Punjabi Bagh Flyovers Ready

Work on two major road infrastructure projects, the Anand Vihar flyover and the Punjabi Bagh flyover, has been completed but are yet to be opened for public use, according to officials. Located in highly congested areas, work on these projects started around two years ago. "The work on the flyover is complete and it is ready for opening," said a PWD official on Wednesday. According to sources, both the flyovers are likely to be inaugurated closer to the assembly elections in Delhi, scheduled for early next year. During the time the work was under way, motorists faced heavy traffic congestion ..

Next Story
Infrastructure Transport

RDSO finalise oscillation trials on Indore Metro

Indore Metro Phase 1 advances with the completion of oscillation and brake performance trials on the Yellow Line through three coaches manufactured by Alstom conducted by Research Design and Standards Organisation (RDSO). The oscillation trials were conducted with an aim to evaluate the stability and performance of the three different coaches during the movement, ensuring that the commencement of operation on Indore metro meets the safety and performance standard. The Emergency Braking Distance (EBD) was also reviewed by the RDSO team to evaluate the efficient stopping of trains during the op..

Next Story
Infrastructure Urban

IIT Guwahati develops sustainable geopolymer

A research team at the Indian Institute of Technology Guwahati, led by Prof. Anil K. Mishra from the Department of Civil Engineering, has developed an innovative solution to two major global challenges: industrial waste management and sustainable construction. Their research focuses on creating a geopolymer using industrial byproducts and waste materials, such as water treatment sludge (WTS), fly ash (FA), and ground granulated blast furnace slag (GGBS). “With the rapid pace of urbanisation and industrialisation, managing industrial waste has become a critical global issue," said IIT Guwaha..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000