TEL AVIV, June 25 A consortium that includes
Israeli chipmaker TowerJazz has won a tender to build
a semiconductor plant in India, the Calcalist financial news
website reported on Tuesday.
The group also includes IBM and Indian
infrastructure company Jaypee, which will fund the
According to Calcalist TowerJazz, which will provide know
how, consulting and support services, will have revenue of $300
million over six years from the project. It will not have any
expenses and therefore will have a profit of 90 percent of the
revenue, the website said.
TowerJazz will also be able to use part of the
facility for its own products, enabling it to expand in India.
TowerJazz officials declined to comment on the report.
A market source told Reuters that Indian telecoms and
information technology minister Kapil Sibal was in Israel last
week and met TowerJazz Chief Executive Russell Ellwanger.
Shares in TowerJazz were up 3.6 percent to 17.5 shekels in
morning trade in Tel Aviv.
Last month TowerJazz said it had been advised a decision
regarding the plant would be made by the Indian government in
the next few weeks.