Andhra Pradesh Launches First Semiconductor Project with ₹2,388 Crore Investment
Andhra Pradesh initiates its first semiconductor project under the India Semiconductor Mission with a ₹2,387.81 crore investment. This facility is expected to create 1,000 jobs and bolster the region's technology sector.
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The groundbreaking ceremony for the Outsourced Semiconductor Assembly and Test (OSAT) facility in Tarluvada is set for June 8. The project, led by Advanced System In Package Technologies Private Limited, involves a total investment of ₹2,387.81 crore, divided into phases of ₹542.19 crore and ₹1,845.61 crore.
The Andhra Pradesh government has allocated 30 acres of land at ₹1 per acre to expedite the project's development. The facility aims to generate 1,000 jobs, with 200 in the first phase and 800 in the second.
Special incentives of up to 40% of project cost will be provided under the Andhra Pradesh Semiconductor and Display Fab Policy (4.0) 2024-29, contingent on grants from the Union government. This initiative is expected to enhance the district's role in India's semiconductor manufacturing landscape.
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