Vedanta-Foxconn selects Dholera SIR for first semiconductor facility in India
On 20 February Vedanta and manufacturing giant Foxconn announced that it is setting up a semiconductor and display manufacturing facility in the Dholera Special Investment Region near Ahmedabad, Gujarat.
An overview of the news
The Vedanta-Foxconn in September 2022 signed a Memorandum of Understanding (MoU) with the Gujarat government to invest ₹1,54,000 crore to set up semiconductor and display manufacturing plant.
It is the first semiconductor manufacturing facility in India.
The project is in the advanced stage of appraisal by the Government of India.
The Joint Venture would invest ₹1,54,000 crore to set up the facility in Gujarat, which would create one lakh job opportunities.
The Gujarat government will provide cooperation to set up the facility and to make it a success.
The project is likely to get huge subsidies and incentives, such as zero stamp duty on land purchase and subsidised water and electricity, under the 'Gujarat Semiconductor Policy 2022-27' announced by the state government in July 2022.
Gujarat has become the first state in the country to have such a dedicated policy for the semiconductor and display fabrication sector.
It is a multinational company headquartered in London, England.
Vedanta Limited is an Indian subsidiary of Vedanta Resources, which is the holding company of Vedanta Group.
It is in the business of Zinc-Lead-Silver, Iron ore, Steel, Copper, Aluminum, Power, Oil and Gas.
The Chairman of Vedanta group: Anil Aggarwal
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