Semiconductor Boost for Gujarat: Simmtech Invests Rs 1,250 Crore

Simmtech, a prominent South Korean firm specializing in semiconductor substrate manufacturing, is slated to establish a manufacturing unit near Ahmedabad, Gujarat, with an investment of Rs 1,250 crore. This initiative forms a crucial part of the broader strategy to develop a robust semiconductor ecosystem within the state.

Having formalized a Memorandum of Understanding (MoU) with the Gujarat government, the company has secured 30 acres of land in Sanand. Commencing operations within the next two to three months, Simmtech anticipates a six to seven-month timeline for setting up the manufacturing plant. The project's significant investment is projected to generate over 1,000 direct and indirect employment opportunities in Gujarat.

This venture marks the second semiconductor plant announced for the region. The inaugural semiconductor chip is scheduled to roll off the production line at the Sanand facility by December 2024.

Simmtech has received subsidies under the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) from both the Central and State governments to facilitate and incentivize this strategic investment. The announcement was made by Union Minister for Electronics and Information Technology, Ashwini Vaishnav, during the Vibrant Gujarat Global Summit in Gandhinagar.

News by Rahul Yelligetti