Tata Sons' Chairperson N Chandrasekaran announced at the Vibrant Gujarat Summit that the group is on the verge of concluding negotiations for the establishment of a Semiconductors fabrication plant in the state. Chandrasekaran said that the firm is looking to conclude the negotiations by the end of 2024 and the plant will come up in Dholera.
The development comes a month after Assam Chief Minister Himanta Biswa Sarma had announced that the conglomerate is looking to invest Rs 40,000 crore to set up a Semiconductors processing plant.
In his address to the gathering where Prime Minister Narendra Modi was present, Chandrasekaran asserted the firm has a special connection with Gujarat as its history dates back to 1939 in the state. From Tata Power to Steel, 21 of the group's companies have a presence in the state. "We hope to play an important role in Gujarat's development," he asserted.
The Vibrant Gujarat Summit is being held after a gap of four years. This year, the theme has been set as "Gateway to Future" to highlight the role the state is going to play in the development of Emerging Technologies in the country. The first plant of US-based Micron Technologies will also be established in Gujarat whose phase 1 is expected to be operational by the first half of 2025.