India's Vedanta says it's awaiting govt nod for semiconductor plant in Gujarat


FILE PHOTO: A bird flies by the Vedanta office building in Mumbai August 16, 2010. REUTERS/Danish Siddiqui/File Photo

BENGALURU (Reuters) -India's Vedanta is awaiting government approval for incentives under a modified semiconductor production plan to begin construction of a plant in the country's western state of Gujarat, for which its has tapped technology and equity partners, a top executive said on Tuesday.

The metals-to-oil conglomerate has engaged with more than 100 global suppliers and ancillary industries which will form a key part of the semiconductor and display ecosystem, 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.

Reuters had reported that deadlocked talks on finalising European chipmaker STMicroelectronics as a tech partner and delayed incentive approvals were among reasons for Foxconn's pullout.

Separately, Gujarat is holding talks with Foxconn over a semiconductor plant, while the Taiwanese company had said it intends to apply for incentives under India's semiconductor production plan.

(Reporting by Sethuraman NR and Aleef Jahan in Bengaluru; Editing by Savio D'Souza and Maju Samuel)

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

Factbox-Who are bankrupt Northvolt's creditors?
UK should use new powers to probe Apple-Google mobile browser duopoly, report says
EU regulators scrap probe into Apple's e-book rules after complaint was withdrawn
Hyundai recalls over 145,000 electrified US vehicles on loss of drive power
'World of Warcraft' still going strong as it celebrates 20 years
Northvolt CEO steps down, saying group needs up to $1.2 billion
Bitcoin at record highs, sets sights on $100,000
Ukraine urges gamers not to enter Chernobyl exclusion zone
Kioxia's market value set at $4.9 billion in IPO
Apple readies more conversational Siri in bid to catch up in AI

Others Also Read