Jaiprakash Associates (JP Associates) in consortium with IBM has proposed setting up chip manufacturing unit which is likely to be operational in the country in the next two years. The said plant will enjoy the government subsidy and will entail an investment of about Rs 25,250 crore.
The proposed plant in consortium led by JP Associates, along with IBM Microelectronics and the system integrator Tower Jazz is likely to come up in Greater Noida in state of Uttar Pradesh. The government is yet to work out the details of subsidy the proposed projects will enjoy. The subsidy will depend on detailed project report to be submitted by the consortium.
The government will also hold 11 percent stake in the project while technology providers are required to hold 10 percent stake holding.
