Vedanta-Foxconn to set their semiconductor plant at Dholera in Ahmedabad

21 Feb 2023 , 08:16 AM

A senior state government official announced on Monday that a joint venture between the Indian conglomerate Vedanta and the world’s largest manufacturer of electronics, Foxconn, has chosen the Gujarati city of Ahmedabad’s Dholera Special Investment Region for the location of their semiconductor and display manufacturing facility.

A joint venture between Vedanta and Foxconn inked a Memorandum of Understanding (MoU) with the Gujarat government in September of last year to invest Rs 1,54,000 crore to establish the facility in the state, making it the largest corporate investment in independent India’s history. This will be India’s first semiconductor manufacturing facility.

The joint venture company had not yet revealed the facility’s precise location at that time.

‘The joint venture between Vedanta and Foxconn chose Dholera SIR for the location of their semiconductor and display production facility after conducting a thorough site analysis and consulting with Gujarati government officials. The Indian government is currently evaluating the project at an advanced level ‘added the official.

Ashwini Vaishnaw, the minister for railways, communications, electronics, and information technology, was present when the Agreement was signed in Gandhinagar in September of last year.

According to Gujarat Chief Minister Bhupendra Patel, both businesses will invest Rs1,54,0 crore to build the facility in Gujarat, which would lead to the creation of a total of one lakh jobs. Additionally, Patel stated that his administration will work with others to put up the facility and ensure its success.

According to a government official, Gujarat became the first state in the nation to establish a specific strategy for the semiconductor and display fabrication industry.

According to this program, qualified projects will receive a 75% subsidy on the first 200 acres of land they purchase for the construction of manufacturing facilities. For the first five years, the eligible projects will receive high-quality water at a cost of Rs12 per cubic metre.

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