National Business Wire (Dec 11) -- The Tata Group proposes to spend $4.8 billion to build a semiconductor processing plant in the northeastern Indian state of Assam.

Assam Chief Minister Himanta Biswa Sarma said on Friday that Tata has submitted the application to the state to build the plant with an investment of nearly Rs 40,000 crore (about $4.8 billion).

Sarma disclosed that the two sides have had several consultations and agreed on some of the potential sites.