November 19, 2004 – South Korean company Intellect has proposed setting up a multifab chip-manufacturing facility near Hyderabad, India, with a US$1.6 billion investment. A team from the company visited the Andhra Pradesh regional government in September and assessed several locations near Hyderabad for the project.
The fab will be named India Semiconductor Manufacturing. The investment will be in two parts, with around US$600 million in phase one and the other US$1 billion later. Intellect is seeking 50 acres for the plant. Building work is due to start in 2005, and the initial chips will begin shipping in 2006.