MeitY reviewing Tarq’s revised semicon proposal
Hiranandani Group, has submitted revised proposals for an assembly, testing, marking and packaging (ATMP) facility and a compound semiconductor unit, along with other companies, officials told ET.
«Apart from an ATMP proposal, they have also submitted one for compound fabs,» one of the officials told ET.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Professional Certificate in Product ManagementVisitIndian School of BusinessISB Digital Marketing and AnalyticsVisitNorthwestern UniversityKellogg Post Graduate Certificate in Product ManagementVisitIndian School of BusinessISB Digital TransformationVisitThe government had asked Tarq Semiconductors to revise its proposal and the new one is an improvement, the official said, adding that «the evaluation process will start soon».
Darshan Hiranandani, chief executive of Hiranandani Group, confirmed the development and said the company has submitted a proposal and is «hopeful to address any concerns that the government may have».
It was reported in the second week of August that the company’s ATMP application was found not up to the mark.
Several other companies, such as Advanced Semiconductor Inc. and Anant Energy, have also submitted proposals, the officials said.
«It will take some time though because there are different levels of scrutiny,» the official said. “Once we are satisfied, then it can be considered. MeitY will go through those proposals very soon.”
Hiranandani Group, traditionally a real-estate venture, has been diversifying into digital businesses such as data centres. Manufacturing chips is its latest bet. It is expected to invest about Rs 2,500 crore initially for its proposed ATMP facility, which
