Brookfield hit it big with towers. Here's what it has in mind next.
Subscribe to enjoy similar stories. Mumbai: Canada's Brookfield Infrastructure Partners is weighing potential investments in India's emerging semiconductor fabrication sector, even as it actively assesses opportunities in fibres, transmission lines, electric vehicles and smart meters. In the US, Brookfield has invested $15 billion in a joint venture with Intel Corp.
to build a semiconductor fabrication facility in Arizona, US. While Brookfield's plan to invest in semiconductors in India is still nascent, it would likely happen in a similar manner, said Arpit Agrawal, head of India and Middle East for Brookfield Infrastructure Partners, which has assets worth over $13 billion in India. “Can we do that in India? For sure.
There is a lot of impetus behind semiconductors; this is an area we can potentially look at," Agrawal said. India has been seeking foreign investments in chipmaking, and has committed over ₹84,000 crore in production-linked incentives. Earlier this month, Maharashtra said the Adani group is working on a $10 billion semiconductor project with Israel’s Tower Semiconductor.
On Monday, Mint reported that Tata Electronics intends to set up two more semiconductor fabs in Gujarat. In 2023, multiple media reports reported Reliance Industries' intent to enter chip fabs, including through a potential investment in Tower Semiconductor. While Brookfield has engaged in some discussions with Indian companies, these plans and conversations are still at a very nascent stage, and will require more thought and structuring, Agrawal said, declining to specify a timeline or a quantum for the investment, as there was no certainty a deal would happen.
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