Adani group is expected to invest around $3 billion within the next 2-3 years to venture into semiconductor manufacturing. The Gautam Adani-run conglomerate is currently in discussions with two Israeli companies for two distinct partnerships to produce chips, as per sources.

According to sources, the group is anticipated to establish its initial manufacturing plant in Maharashtra by 2027 with an estimated investment of $7-8 billion. The initial $3 billion investment will be allocated for establishing the factory and obtaining the technology from the Western Asian company, as stated in the report.

Previously, the Maharashtra government approved the establishment of a semiconductor fabrication unit in Panvel, Mumbai, through a joint venture between the Adani Group and Tower Semiconductor of Israel, with an investment of about Rs 83,947 crore ($10 billion).

The semiconductor manufacturing project is split into two parts: Phase 1 costs Rs 58,763 crore, while Phase 2 costs Rs 25,184 crore. This program is focused on generating 5,000 job opportunities and positioning Maharashtra as a key player in the international semiconductor sector.

Adani Group, based in Ahmedabad, is a large Indian conglomerate with operations in multiple countries. Established in 1988 by Gautam Adani, the Group started as a commodity trading enterprise and has since expanded into various sectors such as sea and airport management, electricity generation and transmission, mining, natural gas, food, weapons, and infrastructure.