- March 30, 2023
- Posted by: ServeXL Administrator
- Category: News & Updates
The country’s first semiconductor plant is to be established in Mysuru with an investment of ₹22,900 crore ($3 billion). The project is expected to be a gamechanger for the region’s growth and give a fillip to connectivity, which is expected to attract more investment. Israeli firm ISMC Analog Fab Pvt.
International semiconductor consortium ISMC, led by Next Orbit Ventures and Israel’s Tower Semiconductor as JV partner, signed a Rs 22,900-crore ($3 billion) agreement with the Karnataka government to set up a chip-manufacturing plant on 150 acres of land in Mysuru’s Kochanahalli Industrial Area.
The Karnataka government is setting up an Electronics Manufacturing Cluster at Kochanahalli, located around 5 km from Mysuru Airport. The semiconductor plant is expected to generate 1,500 high-tech and high-quality jobs and at least10,000 ancillary jobs. The proposed plant is expected to provide a significant boost to the industrialisation of the district.