By H.JanGra May 2, 2022
International semiconductor consortium ISMC said on Sunday that it would invest $3 billion in a semiconductor chip-making plant in Karnataka.
This has given the southern state the lead in cornering investments under the Union government’s $10-billion incentive scheme for semiconductor companies.
ISMC is a joint venture between Abu Dhabi-based Next Orbit Ventures and Israel's Tower Semiconductor
The JV said it would invest in a 65-nanometre analogue semiconductor fabrication plant in Mysuru. US-based chipmaker Intel is buying out Tower in a $5.4 billion deal.
ISMC has sought 150 acres at Kochanahalli industrial area in Mysuru. The project is expected to generate about 1,500 direct jobs.
The government said it would also create about 10,000 indirect job opportunities and kick off an ancillary semiconductor ecosystem.
Chief Minister Basavaraj Bommai, who said last month that Karnataka would get a semiconductor plant soon, was present as ISMC director Ajay Jalan signed the memorandum of understanding with EV Ramana Reddy
The project will put Karnataka on the world's semiconductor map, said CN Ashwath Narayan, deputy chief minister and minister of IT/BT.