Cabinet clears 2 semiconductor units pegged at Rs 51,550 cr

 The Union Cabinet on Wednesday approved setting up of two semiconductor units entailing investments of Rs 51,550 crore.

Two consortia - one led by Jaiprakash Associates and the other by Hindustan Semiconductor - have proposed to set up units in the country.

"Cabinet approved setting up of two semiconductor facilities. We will now prepare a detailed project report and issue letter of intent to participants," DEITY Secretary J Satyanarayana told reporters here after the cabinet meeting.

In September, the Cabinet had given in-principle approval to the projects and had asked the IT ministry to give open offer to all the companies interested in setting up the plants and approach the Cabinet again for final approval.

The consortium led by JP Associates, which includes IBM Microelectronics and the systems integrator Tower Jazz, has outlay of about Rs 26,300 crore for the fab, as per DEITY.

The unit led by Hindustan Semiconductor Manufacturing Corporation (HSMC) along with ST Microelectronics and Silterra (Malaysia), entails investment of Rs 25,250 crore.

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