Tower Semiconductors Resubmits Proposal for Developing a Semiconductor Fabrication Plant in India

Israeli chipmaker Tower Semiconductors has resubmitted a proposal to develop a semiconductor fabrication unit in India for 65 nm and 40 nm chips. Nevertheless, the company is currently entangled in legal proceedings with Next Orbit Ventures, a former joint venture partner based in Abu Dhabi. Next Orbit Ventures is initiating a lawsuit against Tower Semiconductors for proceeding with the submission of a new proposal with a different partner.

Next Orbit Ventures is likely to challenge the new proposal, claiming a breach of the terms of the contract. According to sources, the new partner under this proposal might be the BC Jindal Group.

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This proposal represents Tower's subsequent effort to establish a semiconductor fabrication plant in India. Previously, Tower Semiconductor attempted to enter the Indian market by collaborating with ISMC (International Semiconductor Consortium). However, this venture encountered numerous challenges and did not progress, despite a proposed investment of USD 3 billion.

About Tower Semiconductor

Tower Semiconductor is a leading foundry of high-value analog semiconductor solutions. They specialize in manufacturing analog integrated circuits (ICs) for more than 300 customers worldwide in growing markets such as automotive, medical, industrial, consumer, and aerospace & defense.

Tower Semiconductor is headquartered in Migdal HaEmek, Israel, and has semiconductor manufacturing facilities in Israel, the United States, Japan, and Italy.

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