Vibrant Gujarat Summit: Tatas, Korean Simmtech to set up semiconductor plants

Vibrant Gujarat Summit: Tatas, Korean Simmtech to set up semiconductor plants

New Delhi: CEOs of top global and domestic corporations, including the Adani Group, Suzuki, Reliance, Tatas and Simmtech Korea, announced major investments in Gujarat in advanced or green technologies over the next decade.

The highlight was the announcement of semiconductor plants by the Tatas and the Korean major Simmtech which follows the June announcement of a chips plant by world major Micron whose CEO was also present at the Tenth Vibrant Gujarat Summit which opened in Ahmedabad on Wednesday in the presence of PM Narendra Modi, several cabinet ministers and diplomats, Gujarat CM Bhupendra Patel, and Presidents of the UAE, Mozambique and Timor Leste.

Major automobile manufacturer, Suzuki Motor Corporation, Japan, said it was undertaking a major expansion of its operations in Gujarat which would include the production of its electric vehicles (EVs) for worldwide sales, the launch of a second car plant in the state and the start of four biogas production plants from cow dung in association with NDDB and Banas Dairy.

Gautam Adani, Chairman of the Adani Group, declared a combined investment of Rs 2 lakh crore in Gujarat that will create over one lakh direct and indirect jobs. The Group’s previous announcement of investing Rs 55,000 crore by 2025 had been nearly fulfilled while job creation had exceeded the projected 20,000. The Group is in the process of setting up the world’s largest green energy park and expanding the green supply chain.

Jeffre Chun, CEO of Simtech South Korea, announced a co-location project next to the upcoming semiconductor plant of another global chip major Micron. The company has already set up co-location plants alongside Micron in Malaysia and China more than 10 years ago. These have proven that co-location investments boost the growth of the semiconductor system in the region and make India’s presence in the semiconductor supply chain network much stronger.

Giving an update, Micron CEO Sanjay Mehrotra said phased construction of the memory and test facility in Gujarat with the Tatas had started and hirings of 5,000 professionals would start by early 2025. The combined investment of Micron, and the Centre and state governments could be $ 2.75 billion.

N Chandrasekaran, Chairman of Tata Sons, said his group was on the verge of concluding negotiations for a huge semiconductor fab in Dholera, Gujarat. The group was confident of beginning operations this year itself. With its origins in Navsari, 21 Tata group companies have a very strong presence providing jobs to 50,000 in Gujarat. It is also expanding the EV production line in Sanand.

Dubai-based DP World’s CEO Ahmed bin Sulayem announced an investment of $3 billion over the next three years that will include a state-of-the-art terminal at Kandhla with handling capacity of two million containers to add to its substantial presence in Gujarat since 2003.

Ambani Group patriarch Mukesh Ambani made several commitments including sourcing half of the corporate’s renewable energy needs from Gujarat by 2030, aided by a complex in Jamnagar to produce green products and materials which would be commissioned in the second half of this year. Reliance Foundation will also partner with others to contribute to India’s attempt to host the 2036 Olympics.