New Delhi, Aug. 2 -- Prime Minister Narendra Modi virtually laid the foundation stone for ASIP Technologies' semiconductor assembly, packaging, and testing facility in Visakhapatnam on August 1, marking Andhra Pradesh's entry into semiconductor manufacturing under the India Semiconductor Mission (ISM).

The facility is being established on a 30-acre site at Tarluvada in partnership with South Korean semiconductor packaging company APACT. The initial phase will involve an investment of more than Rs.460 crore and is expected to have an annual capacity of around 96 million semiconductor units.

Andhra Pradesh Chief Minister N. Chandrababu Naidu joined the ceremony virtually. Senior officials from the India Semiconductor Mission and the Andhr...