NE BUSINESS BUREAU
AHMEDABAD, JULY 18
Vedanta Group remains fully committed to building India’s first semiconductor and display fabs in Dholera Special Investment Region in Ahmedabad district, Gujarat. We are awaiting government approval for incentives under a modified semiconductor production plan for which its has tapped technology and equity partners, a top executive said on Tuesday.
“Vedanta Group remains fully committed to building India’s first semiconductor and display fabs in Dholera Special Investment Region in Ahmedabad district, Gujarat. Substantial progress has happened to tie up technology and equity partners in semiconductors and we will make an announcement soon.
We continue to achieve key milestones in our progress. We have engaged with more than 100 global suppliers and ancillary industries who will form a key part of the semiconductor and display ecosystem. The Government of Gujarat has allotted us the land in Dholera and work is already underway to prepare it for construction of the fabs.
We will await the Government of India’s nod to our applications under the modified scheme for semiconductor and display fabs. Thereafter, we will immediately begin construction and set out on the path to make India atmanirbhar in electronics in line with the vision of our Honourable Prime Minister,” Akarsh Hebbar, global managing director at Vedanta Semiconductors and Display, said in a statement.
The group already has a partnership with Taiwan’s Innolux for display fab manufacturing, he added.
Vedanta group Chairman Anil Agarwal had said last week that the company will enter the market for the manufacturing of chips and displays this year, days after its joint-venture partner, Taiwan’s Foxconn pulled out of a $19.5 billion chipmaking project.
After Foxconn pulled out, Vedanta said it had lined up partners for the venture, without giving details.
