Vedanta, an Indian multinational mining firm, has reportedly chosen Gujarat for its upcoming semiconductor project. This will be the company''s first significant step in its $20 billion (roughly Rs. 1,59,070 crore) joint venture with Foxconn. According to reports, the company has reportedly received financial and non-financial subsidies including on capital expenditure and low electricity costs from Gujarat to construct the semiconductor plants. According to reports, other countries, such as Maharashtra, Telangana, and Karnat
According to a Reuters source, Vedanta, an Indian multinational mining company, has chosen Gujarat for its next semiconductor project in collaboration with Foxconn, based in Taiwan.
Vedanta''s first major step in its $20 billion (roughly Rs. 1,59,070 crore) partnership with Taiwan''s smartphone manufacturer is said to have received both financial and non-financial subsidies, including on capital expenditures and low-cost electricity.
The project will include a display as well as semiconductor facilities near Ahmedabad. According to a report, the Indian company had sought 1,000 acres of land free of charge on a 99-year lease along with water and power at a fixed, low price for 20 years. Gujarat was also in the running to host the project.
- Taiwans Position in Chip Market Make It Important Ally for US Against China
According to the report, an official announcement on the project is expected to take place this week. Both sides have signed a protocol of understanding.