How $3 billion semiconductor plant is expected to transform Mysuru

Experts believe the project will drive more investment to Mysuru, and lead to setting up of ancillary units and educational institutions

The country’s first semiconductor plant is to be established in Mysuru with an investment of ₹22,900 crore ($3 billion). The project is expected to be a gamechanger for the region’s growth and give a fillip to connectivity, which is expected to attract more investment. 

Israeli firm ISMC Analog Fab Pvt. Ltd. has signed an MoU with the Government of Karnataka for the project. The firm has sought 150 acres of land at Koochanahalli near Thandya on the Mysuru-Nanjangud road.

Officials involved with the negotiations and signing of the MoU said the project will help expedite connectivity factors as it will play a significant role in luring more such investment. This, in turn, will create more jobs and change the economic profile of Mysuru.

Mysuru MP Pratap Simha expects the ongoing Bengaluru-Mysuru Expressway Corridor, expansion of Mysuru airport and introduction of faster and additional trains to spur industrial development in the region.

‘’The reason I am pushing these three projects on a war footing is that the infrastructure will bring about a major shift in the economic activity in Mysuru, and propel its economy and industrialisation,” said Mr. Simha. So far, request for funds for the airport project were being questioned, but with this investment, the expansion plan cannot be postponed. The government has already released ₹319 crore to procure land and kickstart the work.

The semiconductor plant is expected to generate 1,500 high-tech and high-calibre jobs, and about 10,000 ancillary jobs, according to K.S. Sudheer, General Manager, Karnataka Digital Economy Mission, Mysuru Cluster. “It will transform the way Mysuru is going to perform economically, with cascading impact on other parameters as well,” he added.

‘’Semiconductor is the core component of electronics. Once we have the semiconductor fabrication plant in Mysuru, it is akin to having the engines of electronic and digital economy in Mysuru. Other ancillary units will follow suit, and we don’t have to push for them,” he said.