Adani Enterprises is firming up plans for a mega semiconductor plant in Panvel, Maharashtra. The Adani Group company confirmed this in a clarification to stock exchanges. The company, however, said in the exchange filing that it has not signed any binding document and would not be commenting on the same at this stage. The exchange filing comes after queries from stock exchanges about a report in The Times of India that the company would set up this plant. The report had claimed that that the Maharashtra government had given a green light to a joint venture between Israel’s Tower Semiconductor and the Adani group to set up the semiconductor manufacturing unit.....CLICK HERE TO READ THE FULL ARTICLE>>>
“We would like to clarify that, as per our knowledge, the project referred in the said media report is being evaluated at Adani group level. The Company has not signed any binding document(s) in this regard hence we are unable to comment on the same at this stage.” Adani Enterprises said, adding that “it will make appropriate disclosures in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as and when required.”
The deputy chief minister of Maharashtra, Devendra Fadnavis had also tweeted about the deal saying the Rs 83,947-crore project would produce 80,000 wafers per month after completion and create more than 5,000 jobs in the region.
Meanwhile, Prime Minister Narendra Modi will be joining semiconductor industry leaders at an event in Greater Noida today….CLICK HERE FOR MORE ARTICLE>>>
