1. Home
  2. Products
  3. Vedanta to finalise semiconductors, display unit site by mid-June
Vedanta to finalise semiconductors, display unit site by mid-June
Products

Vedanta to finalise semiconductors, display unit site by mid-June

27 May 2022 2 Min Read CW Team
Vedanta Limited will finalise a location for its $20 billion semiconductors and display unit in India by mid-June and will have the first chip product ready in two years.

Oil-to-metals conglomerate Vedanta said in February that it would diversify into chip manufacturing and declared plans to form a joint venture (JV) with Taiwan's Foxconn to help Prime Minister Narendra Modi's movement to make India a semiconductor manufacturing hub.

Vedanta has a total planned investment outlay of $20 billion for two separate plants for chip and display manufacturing.

Foxconn is our technical partner. The company may not take equity partners for the fab, Vedanta Chairman Anil Agarwal told the media.

In Davos, the Apple contract manufacturer will have technical accountability for the operation, from providing the tech to creating semiconductors, Agarwal said.

Vedanta is striving for incentives from Modi's government and is also in discussions with several Indian states on the plant's location.

On the sidelines of the annual World Economic Forum the first phase of Vedanta's project will have an investment of $2 billion, Agarwal said.

Private equity wants to be part of India's semiconductor development, and there was no lack of funds.

India estimates its semiconductor market will achieve $63 billion by 2026, corresponding with $15 billion in 2020.

You have to make another Taiwan in India, Agarwal said, noting that India will have to concentrate on bringing the whole semiconductor ecosystem locally for it to be an international powerhouse.

The Indian government has said it will extend incentives beyond an initial $10-billion plan for those investing in semiconductor manufacturing, as it seeks to become a critical player in the global supply chain for chips.

Image Source

Also read: Vedanta Ltd in a race to become India's first chip maker
Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

Vedanta Limited will finalise a location for its $20 billion semiconductors and display unit in India by mid-June and will have the first chip product ready in two years. Oil-to-metals conglomerate Vedanta said in February that it would diversify into chip manufacturing and declared plans to form a joint venture (JV) with Taiwan's Foxconn to help Prime Minister Narendra Modi's movement to make India a semiconductor manufacturing hub. Vedanta has a total planned investment outlay of $20 billion for two separate plants for chip and display manufacturing. Foxconn is our technical partner. The company may not take equity partners for the fab, Vedanta Chairman Anil Agarwal told the media. In Davos, the Apple contract manufacturer will have technical accountability for the operation, from providing the tech to creating semiconductors, Agarwal said. Vedanta is striving for incentives from Modi's government and is also in discussions with several Indian states on the plant's location. On the sidelines of the annual World Economic Forum the first phase of Vedanta's project will have an investment of $2 billion, Agarwal said. Private equity wants to be part of India's semiconductor development, and there was no lack of funds. India estimates its semiconductor market will achieve $63 billion by 2026, corresponding with $15 billion in 2020. You have to make another Taiwan in India, Agarwal said, noting that India will have to concentrate on bringing the whole semiconductor ecosystem locally for it to be an international powerhouse. The Indian government has said it will extend incentives beyond an initial $10-billion plan for those investing in semiconductor manufacturing, as it seeks to become a critical player in the global supply chain for chips. Image Source Also read: Vedanta Ltd in a race to become India's first chip maker

Next Story
Infrastructure Urban
17 Jan 2025

Bain Capital Invests in Dhoot Transmission Group to Accelerate Growth

Dhoot Transmission Group, a prominent manufacturer of automotive components, has announced a strategic growth investment from Bain Capital. This partnership with founder and CEO Rahul Dhoot will leverage Bain Capital's automotive expertise to drive innovation, expand global reach, and explore high-growth segments through acquisitions and partnerships.Founded in 1999, Dhoot Transmission Group specializes in manufacturing wiring harnesses for two-wheelers, three-wheelers, and other vehicles, including both internal combustion engine (ICE) and electric vehicle (EV) segments. The company has diver..

Read More
Next Story
Infrastructure Energy
17 Jan 2025

Indian Oil Corp Eyes Sour Crude from Spot Market

Indian Oil Corporation (IOC), the largest oil refiner in India by capacity, is actively seeking to procure high-sulphur crude oil through spot tenders. This marks the company's first initiative to import sour crude oil since March 2022, according to insights shared by trade sources on Thursday. Sour crude, known for its higher sulphur content, is commonly used by complex refineries capable of processing such grades efficiently. In addition to the sour crude tender, IOC has also floated a separate tender for sweet crude oil, a variety with lower sulphur content that typically requires less int..

Read More
Next Story
Infrastructure Urban
17 Jan 2025

Indian Carmakers Gear up for EV Push in 2025 Despite Global Slowdown

Automakers in India are preparing to launch nearly a dozen new electric car models this year, many targeting the premium market. These vehicles are expected to feature extended driving ranges and faster charging capabilities, aimed at attracting consumers amid a global slowdown in demand for electric vehicles (EVs). Electric cars are set to dominate India's five-day auto show in New Delhi starting Friday. The event will showcase models from Vietnamese newcomer VinFast, alongside domestic players such as Maruti Suzuki and Mahindra & Mahindra, as well as international competitors including BYD,..

Read More

Opinion Poll

Question : Which technological advancement do you believe will most transform the real estate industry in the coming years?

Latest updates

Bain Capital Invests in Dhoot Transmission Group to Accelerate Growth
ECONOMY & POLICY
17 Jan 2025

Bain Capital Invests in Dhoot Transmission Group to Accelerate Growth

Indian Oil Corp Eyes Sour Crude from Spot Market
OIL & GAS
17 Jan 2025

Indian Oil Corp Eyes Sour Crude from Spot Market

Indian Carmakers Gear up for EV Push in 2025 Despite Global Slowdown
ECONOMY & POLICY
17 Jan 2025

Indian Carmakers Gear up for EV Push in 2025 Despite Global Slowdown

Welspun Partners with Saudi Aramco to Establish Manufacturing Facility
ECONOMY & POLICY
17 Jan 2025

Welspun Partners with Saudi Aramco to Establish Manufacturing Facility

India's Power Sector Offers Rs 40 Tn Investment Opportunity by 2035
POWER & RENEWABLE ENERGY
17 Jan 2025

India's Power Sector Offers Rs 40 Tn Investment Opportunity by 2035

Maharashtra to Launch One State, One Registration Scheme by April: IGR
Real Estate
17 Jan 2025

Maharashtra to Launch One State, One Registration Scheme by April: IGR

Dream11 Co-Founder Purchases Rs 1.38 Bn Apartment in Malabar Hill
Real Estate
17 Jan 2025

Dream11 Co-Founder Purchases Rs 1.38 Bn Apartment in Malabar Hill

Resolve All Pending Land Partition Cases within Two Months: Mohali ADC
ECONOMY & POLICY
17 Jan 2025

Resolve All Pending Land Partition Cases within Two Months: Mohali ADC

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000