IBM and STMicroelectronics are each planning to invest Rs 25,000 crore initially, in India, to set up a chip-making facility.
Both the companies are in an advanced stage of talks with the Central Government for their proposed investment. The chip-making units are expected to get concessions worth around Rs 60,000 crore over 13 years, which will include a 3-year construction period and the first 10 years of operations.
It is learned that IBM and STMicroelectronics have evinced interest in setting up their project either in Greater Noida, Gujarat, or Bangalore. However, the exact location is yet to be finalised.