Vedanta awaiting government’s nod for semiconductor plant

Vedanta is seeking government clearance for incentives under a modified semiconductor production plan in order to start building a plant. It has enlisted the help of equity and technical partners for this project.

Akarsh Hebbar, Global Managing Director at Vedanta Semiconductors and Display, stated in a statement that the metals-to-oil conglomerate has partnered with more than 100 worldwide suppliers and ancillary sectors that would play a significant role in the semiconductor and display ecosystem. For the production of display fabs, the business already has cooperation with Taiwan's Innolux, he continued. Days after its joint-venture partner, Taiwan's Foxconn, abandoned a $19.5 billion chip manufacturing project, Vedanta group Chairman Anil Agarwal announced last week that the business would enter the market for the production of chips and displays this year. Vedanta claimed it has partners lined up for the project after Foxconn withdrew without providing further information. 

Separately, Gujarat and Foxconn are in negotiations regarding the construction of a semiconductor plant, and the Taiwanese business has stated that it intends to apply for incentives under India's strategy for the manufacturing of semiconductors.

Source: Media Reports

Top stories
Company

Delta Corp Q1 PAT Declines 68% YoY to Rs 22 crore in FY25

4 mins read . 13 Jul 2024 . 09:30 AM

Company

Zydus Life Gets USFDA Nod for Heart Failure Drug

3 mins read . 13 Jul 2024 . 09:23 AM

Company

RVNL Spurts 10% on Bagging Multiple Orders Worth Rs 390 Cr

4 mins read . 13 Jul 2024 . 09:18 AM

Related Blogs
blog-logo

Share Market

blog-logo

12 mins read . 12 Jul 2024

Ritesh Agarwal: The OYO Founder’s Success Story

  • 0 people read
blog-logo

Share Market

blog-logo

15 mins read . 08 Jul 2024

Best Oil & Gas Stocks in India

  • 0 people read
Kickstart your equities journey today You've got this
By submitting this I agree to the terms & conditions