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