The government is currently reviewing the proposal, which would make Tower the first semiconductor company to join the scheme and provide a significant boost to India’s chipmaking aspirations.
If accepted, Tower would receive a 50% capital expenditure subsidy from the government, and additional benefits from the state where the plant is located.
The company hopes to manufacture 65 nanometre and 40 nanometre chips for use in sectors such as automotive and wearable electronics.
Tower’s previous plans to set up a $3 billion plant in Karnataka were obstructed by its merger with Intel, and the subsequent cancellation of the acquisition.
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