Tata Electronics: In a boost to Prime Minister Narendra Modi's vision to establish India as a global semiconductor manufacturing center, Tata Electronics held the groundbreaking ceremony for its chip assembly and testing unit at Jagiroad in Morigaon district, Assam on Saturday.
The ceremony was attended by Assam Chief Minister Himanta Biswa Sarma and N. Chandrasekaran, Chairman of Tata Sons.
"This ₹27,000 cr plant has an employment potential of over 27,000 jobs and will attract world-class industrial ecosystem that will spur India’s quest to become a global leader in new age tech," Assam CM worte on X.
Being touted as the largest investment project in Northeast India, the estimated Rs 27,000 crore Tata semiconductor plant is expected to create over 27,000 direct and indirect jobs in the region. The first phase of the plant is scheduled to be operational by mid-2025.
In February, the Central government approved three semiconductor plants - two in Gujarat and one in Assam - with a total investment of approximately Rs 1.26 lakh crore.
Meanwhile, in March, Prime Minister Narendra Modi virtually laid the foundation stone for the CG Semi’s factory at Sanand. This facility will occupy a land area of 28 acres with an investment of Rs 7,600 crore, spread over a period of five years. The plant will manufacture a variety of products for industries such as automotive, consumer, industrial, 5G, and others, with the capacity to ramp up production to 1.5 crore units per day.
CG Semi is a three-way joint venture between CG Power (92.34 percent stake), Renesas Electronics Corporation (6.76 percent), and Stars Microelectronics (Thailand) Public Co. Ltd (0.90 percent).
As per the agreement, CG Power, Renesas, and Stars are to subscribe in one or more tranches, subject to meeting certain conditions, up to USD 205 million, USD 15 million, and USD 2 million, respectively, towards the equity capital of CG Semi.
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Inputs from IANS
