The Union Cabinet has approved the ``Keynes Semicon'' plan to set up a semiconductor unit at Sanand, Gujarat, with an investment of Rs 3,307 crore ($394.15 million). This will be the fifth unit under India Semiconductor's Mission (ISM), which has invested Rs 1,52,307 crore (US$18.15 billion) since its inception in December 2021.
The plant will produce around 6 million chips per day with a focus on assembly, testing, marking and packaging (ATMP). These chips will find use in a variety of fields, including automotive, consumer electronics and telecom. Construction on the 47-50 acre site will begin soon with the first chips due by March 31, 2025.
Keynes Semicon will work with technology partners in Malaysia, Taiwan, and Japan for training and technical support. The facility plans to hire 500 employees by March 2025 and has already begun hiring efforts.