Tower Semiconductor withdraws from plans to build a wafer fab in India

Tower Semiconductor, an Israeli foundry, withdrew from its plan to build a wafer fab in India "five or six months ago." Ellwanger said that previous reports that India's Adani Group had suspended its $10 billion joint investment with Tower to build a wafer fab in India were not true because Tower had already withdrawn from the project. He added that Tower chose to withdraw for good reasons, but the specific reasons were not convenient to disclose.