In partnership with Foxconn, Vedanta has selected Gujarat for a $20 billion semiconductor project, according to reports

In partnership with Foxconn, Vedanta has selected Gujarat for a $20 billion semiconductor project, a ...

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.

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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.