- Tower Semiconductors resubmitted a proposal for a semiconductor fabrication unit in India for 65 nm and 40 nm chips, in partnership with Jindal group
- Next Orbit Ventures, previously in a joint venture with Tower, is contemplating legal recourse against Tower Semiconductors for excluding them from the new partnership despite previous agreements.
- The new proposal suggests a potential collaboration between Tower Semiconductors and the BC Jindal group, although specific details remain undisclosed.
- Tower’s earlier endeavor in India with SIMC Analog Fab Private, despite a $3 billion proposed investment, encountered challenges and did not materialize.
- Legal discussions are ongoing, focusing on possible injunctions against the new partnership and claims for damages due to Next Orbit Ventures’ involvement in advancing Tower’s earlier Indian fab aspirations.
Source Business Stanadard