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)

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

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
Real Estate

Colliers India Transacts 207,000 sq ft office space at Embassy TechVillage

Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced that it has signed an Agreement to Lease (‘ATL’) with global cyber security company Rubrik at Embassy TechVillage in Bengaluru.Colliers, a leading global diversified professional services company, specialising in commercial real estate services, engineering consultancy and investment management facilitated the transaction for Rubrik.Located on Bengaluru’s Outer Ring Road, Embassy TechVillage is one of Embassy REIT’s flagship office parks which offers world-class office spaces, ..

Next Story
Infrastructure Urban

Ensemble Infrastructure India Appoints Suman Saha as Director of Design

Ensemble Infrastructure India Ltd, a leading workplace design and build fit-out company, has appointed Suman Saha as its new Director of Design. With 25 years of experience in the industry, Suman is recognized for his innovative approach and excellence in design leadership.Working closely with the CEO, Suman’s appointment will enhance the company’s design communication across multiple touchpoints, ensuring smooth collaboration between clients, designers, and execution teams for superior project outcomes. Under his guidance, Ensemble will focus on creating workspaces and design labs that em..

Next Story
Products

Ribbon Vanity by Küche7: Fluid Design Meets Everyday Elegance

Küche7, pioneers in luxury stainless steel kitchens, have unveiled the Ribbon Vanity, a graceful creation that transforms bathroom spaces with its soft, flowing design and understated sophistication. Inspired by the fluid form of a ribbon, this vanity combines smooth finishes, clean lines, and gentle curves, offering a timeless aesthetic that seamlessly complements diverse interior styles.Available in a refined blush pink hue, the Ribbon Vanity effortlessly merges functionality with elegance. With thoughtfully designed storage options, it ensures that bathroom essentials are neatly organised ..

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