Vedanta signs MoUs with 20 Korean display glass companies

18 Apr 2023 , 03:20 PM

Vedanta Group, a multinational mining company has signed Memorandum of Understandings (MoUs) with 20 Korean display glass companies for the development of an electronics manufacturing hub in India.

The company has signed these pacts in ‘Korea Biz-Trade Show 2023’ event organised by KOTRA, the state-funded trade and investment promotion organisation operated by the South Korean government, in collaboration with Korea’s Ministry of Trade, Industry and Energy.

‘Vedanta is establishing India’s first display fab in Gujarat,’ Hebbar said. ‘This will be the nucleus that will attract upstream and downstream players. Given the investment-friendly policies of the Indian government, there is a huge opportunity for Korean companies to invest in this electronics hub,’ he added.

Last year, Vedanta topped the chart for the stock with the highest dividend yield in India. The company has been relying on dividends from the Mumbai-listed company to repay debts of its London vehicle, which has been facing cash flow concerns, the report said.