He was speaking at a curtain raiser on the Bengaluru Tech Summit (BTS) here on Tuesday.
At the press conference, Narayan referred to how quickly Karnataka had formalised a Memorandum of Understanding with the ISMC consortiumfor a $3 billion fabrication plant in Mysuru.
ISMC is a joint venture between Abu Dhabi-based Next Orbit Ventures and Israel’s Tower Semiconductor. ET reported on
Tuesday that diversified conglomerate Reliance Industries and IT services provider HCLTech were evaluating a stake buy in ISMC.
ISMC has sought 150 acres of land at Kochanahalli industrial area in the city for the project, which is expected to provide about 1,500 direct jobs.
The state government has said that it would also create about 10,000 indirect job opportunities and kick off an ancillary semiconductor ecosystem.
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“We were able to finalise our partner, incentives and commitment with Tower Semiconductor in one week, while many states took months. By February 2023, which company and which state will host the semiconductor fabrication unit, will be known,” Narayan added.
