Israel's Tower proposes $8 bln chip plant in India - report

Tower Semiconductor

11/02/2024 05:55

BENGALURU, Feb 11 (Reuters) - Israel's Tower
Semiconductor  TSEM.TA  has submitted a proposal to India's
government to build an $8 billion chipmaking facility in the
South Asian nation, national daily Indian Express reported on
Sunday. 
    Tower, seeking government incentives for its plan, is
looking to manufacture 65 nanometre and 40 nanometre chips in
India, the report said.
    The company and India's IT ministry did not immediately
respond to requests for comment.
    Chip manufacturing is a key plank of Modi's business agenda,
but initial bids to offer $10 billion in incentives to the
industry have floundered, with some proposals stalled or
cancelled.

 (Reporting by Munsif Vengattil in Bengaluru; Editing by Sonali
Paulmus)
 ((munsif.vengattil@thomsonreuters.com))