According to Mint, Ashwath Narayan, minister for information technology, electronics and skill development in the Indian state of Karnataka, said ISMC Digital will spend $3 billion to build a fab in Karnataka if it can be approved on time, and construction is expected to begin in a few months.

ISMC, which stands for International Semiconductor Consortium, is a joint venture between UAE-based investment firm Next Orbit Ventures and Israel’s Tower Semiconductor. Intel may end up owning a portion of the Karnataka ISMC plant as a result of Intel’s $5.4 billion acquisition of Tower Semiconductor.

It is worth mentioning that in May 2022 there was news that related consortia were ready to set up fabs in India, with both Next Orbit Ventures, as well as Tower Semiconductor, deciding to invest $3 billion in India to set up fabs, which are expected to be operational within four to five years.

In addition, Foxconn and Indian company Vendanta also plans to build a factory in the western state of Gujarat, while Singapore’s IGSS Ventures also proposed to invest $3.2 billion in the southern state of Tamil Nadu to build a semiconductor park, but these are after Karnataka.

It is reported that the monthly capacity of this Indian fab is expected to be 40,000 wafers, the initial goal is to produce 65nm process technology, the future will be upgraded to 40nm process technology, mainly for automotive chips and defense chips and other fields.

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