India, May 1 -- Gautam Adani-led ports-to-power conglomerate Adani Group has reportedly put a pause on its $10 Bn chip venture discussions with Israel's Tower Semiconductor.

Citing sources close to the matter, a Reuters report said that the move followed an internal evaluation which concluded that the project currently lacks strategic and commercial viability.

In September last year, Maharashtra's cabinet approved Adani Group's proposal to set up an INR 83,947 Cr ($10 Bn) semiconductor manufacturing plant with Israel's Tower Semiconductor, backing India's ambition to become a global hub for chip manufacturing, which was expected to create 5K jobs.

The semiconductor plant will have a production capacity of 40,000 wafers per month in pha...