Adani Group, Tower Semiconductor plan to set up wafer fabs in India

Indian giant Adani Group and Israeli foundry company Tower Semiconductor plan to build a wafer fab in Maharashtra, with an estimated total investment of $10 billion. The wafer fab in Panvel near Mumbai will focus on the manufacture of analog and mixed-signal semiconductor products and is expected to create more than 5,000 jobs. The investment in the first phase will reach $7 billion, with a monthly production capacity of 40,000 wafers; another $3 billion will be invested in the second phase to double the monthly production capacity to 80,000 wafers. The project is expected to be completed within 3 to 5 years, and the chips produced will be used in products such as smartphones, drones and automobiles.