Vedanta awaits Govt nod for Semiconductor plant in Gujrat

19 Jul 2023 , 11:24 AM

According to news reports, Vedanta is seeking government clearance for incentives under a modified semiconductor production plan to start building a factory in the nation’s western state of Gujarat. For this project, Vedanta has enlisted the help of technical and equity partners.

Akarsh Hebbar, global managing director at Vedanta Semiconductors and Display, stated in a statement to ET 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, withdrew from a $19.5 billion chipmaking 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.

According to Reuters, among the factors for Foxconn’s withdrawal were stalled negotiations to finalize STMicroelectronics as a tech partner and a backlog of incentive approvals.

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.

For feedback and suggestions, write to us at [e-mail]