South Korean firm Simmtech will be setting up a manufacturing unit at Sanand near Ahmedabad, Gujarat, amounting to Rs 1,250 crore, as part of creating a semiconductor ecosystem in the state.

The company has signed a memorandum of understanding (MoU) with the Gujarat government to establish the said plant.

The Union Minister for Electronics and Information Technology Ashwini Vaishnav revealed this during the ongoing Vibrant Gujarat Global Summit in Gandhinagar.

Simmtech, a leading manufacturer of semiconductor substrate, has been allotted 30 acres at Sanand, and will start working in the next two-three months. It will need six to seven months to set up the plant.

The investment is expected to create more than 1,000 direct and indirect job opportunities in the state.

This is the second semiconductor plant to be announced in Gujarat. As per schedule, the first chip will be produced from the Sanand factory in December 2024.