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Tata Group is planning to build a huge semiconductor fab in Gujarat’s Dholera, and it will begin operations in 2024 itself, Chairman N Chandrasekaran said on Wednesday.

He said the salt-to-software group is in the final stages of negotiations for the plant.

“Tata Group has also made a commitment and is on the verge of concluding and announcing a huge semiconductor fab in Dholera, and we are about to complete these negotiations and start in 2024,” Chandrasekaran said at the 10th Vibrant Gujarat Global Summit.

The chairman also said the group will begin construction of a 20-gigawatt lithium-ion storage battery factory in the state’s Sanand city in the next two months.

Chandrasekaran said in the recent past, the group has made a “significant commitment” to expand its presence in Sanand, which, he said is becoming a home for all of the group’s electric vehicle technology.

He added that the expansion in Sanand has been undertaken to meet the growing demand for EVs.

Apart from that, the group is also building the C295 defence aircraft in Vadodara initially and will later start manufacturing it at Dholera, Chandrasekaran said.

The first phase of the Indian Institute of Skills being constructed in partnership with the central and state governments will be launched by March 2024 in the state, he said.

“We see Gujarat as a very very important destination, not only for business growth but for the future advanced technology industries that India is looking to grow in,” he said.

At present, 21 companies from the group are present in the state and employ over 50,000 people, the chairman said, stating that the group has been closely linked to the state because of its founder’s hometown Navsari.

He said the “steady and spectacular” progress in Gujarat demonstrates the visionary leadership of Prime Minister Narendra Modi, who started the event two decades ago.

Chandrasekaran said the economic benefits, which have accrued to the state have also had a tremendous impact on social development.

He described Gujarat as a “gateway to the future” because of its strengths.