Three companies planning chip units close in on technology partners

Sources say that while Intel has ratified the deal, it cannot commit itself on paper until all legal approvals for the acquisition are completed

Three companies which have applied for the RFP to set up a semiconductor plant are readying for the next big steps by working on finalizing their technology partners in order to meet the government’s eligibility criteria for incentives under the semiconductor scheme.

It is expected that the winning player, or players, will be issued a letter of intent to go ahead sometime in August this year, say sources in the know.

Ajay Jalan, founder and CEO of the Next Orbit-led international consortium ISMC, says it has submitted a definitive agreement signed with Israel-based Tower Corporation (which is being acquired by Intel) which