Vedanta-Foxconn selects Dholera SIR for first semiconductor factory in India
21st Feb 2023 | Source by https://thefederal.com/
In the biggest-ever corporate investment in the history of independent India, a JV of Vedanta and Foxconn in September last year signed a MoU with the Gujarat government to invest ₹1,54,000 crore
A joint venture of Indian conglomerate Vedanta and electronics manufacturing giant Foxconn has finalized the Dholera Special Investment Region (SIR) near Ahmedabad city of Gujarat for setting up their semiconductor and display manufacturing facility, a senior state government official said on Monday (February 20).
In the biggest-ever corporate investment in the history of independent India, a joint venture of Vedanta and Foxconn in September last year signed a Memorandum of Understanding (MoU) with the Gujarat government to invest ₹1,54,000 crores to set up the plant in the state. This will be the first manufacturing facility for semiconductors in India.
At that time, the joint venture company had not disclosed the exact location of the facility.
“After a detailed site analysis in consultation with Gujarat government authorities, the joint venture entity of Vedanta and Foxconn has selected Dholera SIR for setting up their semiconductor and display-manufacturing facility. The project is in the advanced stage of evaluation by the government of India,” the official said.