Tata Group Inks Rs 27,000 Crore Deal For Semiconductor Plant In Assam: Report
A new semiconductor manufacturing facility is set to be established at the location of a former paper mill in Morigaon. This project is undertaken by a subsidiary of the Indian conglomerate Tata.
The Assam government has taken a significant step towards establishing a semiconductor facility in Morigaon district of Assam. The state government has inked a agreement with the Tata Group, granting India's largest conglomerate a long-term lease for a substantial parcel of land exceeding 170 acres, says a report by ET. A new semiconductor manufacturing facility is set to be established at the location of a former paper mill in Morigaon. This project, undertaken by a subsidiary of the Indian conglomerate Tata, brings a substantial investment of around Rs 27,000 crore.
The contract between Tata Group and Assam government, which extends for a six-decade period, was officially finalised by representatives from both parties.
#WATCH | Assam: Land agreement for Tata Group's semiconductor project in Jagiroad, Morigaon district, was finalised today. pic.twitter.com/DkoQ9hP4bK
— ANI (@ANI) July 16, 2024
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This deal is said to accelerate the development of semiconductor manufacturing capabilities in the region, while creating new job opportunities and fostering technological advancement in the northeastern state of Assam.
A senior executive from the Tata Group signed on behalf of the company, while a technical manager and project lead from the Assam Industrial Development Corporation (AIDC) represented the state's interests, the ET report added.
This initiative is part of a larger national strategy to boost India's semiconductor industry. The central government has given its approval for the creation of three such facilities across the country. Construction on all three projects is expected to commence within a few months.
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According to the state's Chief Minister, the Assam facility is projected to begin production by 2025. In addition to manufacturing, the project will include a dedicated center for skill development. This center aims to provide local youth, particularly from the northeastern region, with training in cutting-edge technologies such as artificial intelligence, semiconductor technology, and electronics.
The Chief Minister also noted that a group of 1,500 individuals from Assam, predominantly women, are currently receiving specialized training at facilities in southern India. The goal is to prepare them for leadership roles when the new plant becomes operational.
Recently, the Prime Minister participated in a virtual ceremony to mark the official start of the project's construction. This development signifies a major step in Assam's industrial growth and India's push towards self-reliance in high-tech manufacturing.
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