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India to get chip fab with TowerJazz technology
26-06-2013

Consortium includes IBM and local company Jaypee


A report in Calcalist financial news website claims that a consortium comprising Israeli chipmaker TowerJazz, IBM, and Jaypee Associates has won a tender to build a semiconductor plant in India.

TowerJazz, which will provide know-how, consulting and support services, will have revenue of
Rs.1,630.43 crore ($300 million) over six years from the project. It will not have any expenses and will have a profit of 90 per cent of the revenue.

The group also includes IBM and Indian infrastructure company Jaypee, which will fund the project.TowerJazz will also be able to use part of the facility for its own products, enabling it to expand in India.

According to Reuters, Union Minister Kapil Sibal was in Israel last week and met TowerJazz Chief Executive Russell Ellwanger.

Earlier, in February this year, Frost & Sullivan, in an interview with EE Times India, revealed that a consortium comprising Israeli chipmaker TowerJazz, IBM, and Jaypee Associates had been shortlisted for setting up the first chip fab in India.

From eetindia


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