IGSS signs up three equity partners for $3.5-bn wafer plant in Tamil Nadu

Vedanta-Foxconn announced an MOU to set up its chip and display plant in Gujarat on Wednesday

A Singapore-based consortium led by IGSS Ventures has submitted its semiconductor plant proposal to the government for setting up a special purpose vehicle with three equity partners to build a $3.5 billion plant in Tamil Nadu in two years with a capacity to make 40,000 wafers per month — roughly around 2,000-2,200 chips per wafer.    

IGSS Ventures’ founder and CEO Raj Kumar, who has built numerous fab plants in Singapore, told Business Standard, without revealing the name, that one strategic partner is a global integrated device manufacturer (IDM) which designs and produces its own chips and which is majority-owned in