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Chip consortium ISMC plans $3 bln plant in India's Karnataka

Chip consortium ISMC plans $3 bln plant in India's Karnataka

reuters.com · 05/01/2022 03:53
Chip consortium ISMC plans $3 bln plant in India's Karnataka

- India's southern state of Karnataka has a signed a $3-billion agreement with chip consortium ISMC to set up a semiconductor manufacturing plant, state officials said on Sunday.

ISMC is a joint venture between Abu Dhabi-based Next Orbit Ventures and Israel's Tower Semiconductor. Tower is currently being acquired by U.S. chip giant Intel Corp INTC.O.


(Reporting by Munsif Vengattil in New Delhi; Editing by Clarence Fernandez)

((munsif.vengattil@thomsonreuters.com;))