Vedanta-Foxconn JV asked to provide information on chip fabrication
Technology

Vedanta-Foxconn JV asked to provide information on chip fabrication

The Vedanta-Foxconn joint venture may or may not have the "necessary technical know-how" for manufacturing and fabricating semiconductors, according to the Centre. Vedanta and Foxconn Technology Group have been asked by the Ministry for Electronics & Information Technology (MeitY) to provide more information about how they intend to obtain the necessary technical know-how or find a third partner with proven technical capacity. Foxconn hasn't really worked in manufacturing semiconductor chips on a massive scale.

Companies seeking incentives under India's ambitious Rs 76,000 crore scheme to build a complete semiconductor ecosystem must show clear expertise in the specialised field of semiconductor manufacturing.

Under the programme for the development of the semiconductor and display manufacturing ecosystem, mining conglomerate Vedanta and Hon Hai Technology Group ("Foxconn") have signed a joint venture agreement (JV) to establish a semiconductor manufacturing facility in India. To date, Vedanta-Foxconn is the only applicant which is still scouting for a factory location.

Industry insiders who are aware of the IT ministry's discussions said that while Foxconn excels at making electronics systems, moving into the semiconductor industry would be a "backward integration" that would require a technology partner.

According to the MoU the two businesses signed, Vedanta will own the majority of the equity stake in the JV while Foxconn will hold a minority stake.

Vedanta intends to make an investment in the semiconductor chip manufacturing facility of up to Rs 66,000 crore. At the time, the company had stated that it would use a 28-nanometer (nm) fabrication to target electronics and smartphones.

The Vedanta-Foxconn joint venture may or may not have the necessary technical know-how for manufacturing and fabricating semiconductors, according to the Centre. Vedanta and Foxconn Technology Group have been asked by the Ministry for Electronics & Information Technology (MeitY) to provide more information about how they intend to obtain the necessary technical know-how or find a third partner with proven technical capacity. Foxconn hasn't really worked in manufacturing semiconductor chips on a massive scale. Companies seeking incentives under India's ambitious Rs 76,000 crore scheme to build a complete semiconductor ecosystem must show clear expertise in the specialised field of semiconductor manufacturing. Under the programme for the development of the semiconductor and display manufacturing ecosystem, mining conglomerate Vedanta and Hon Hai Technology Group (Foxconn) have signed a joint venture agreement (JV) to establish a semiconductor manufacturing facility in India. To date, Vedanta-Foxconn is the only applicant which is still scouting for a factory location. Industry insiders who are aware of the IT ministry's discussions said that while Foxconn excels at making electronics systems, moving into the semiconductor industry would be a backward integration that would require a technology partner. According to the MoU the two businesses signed, Vedanta will own the majority of the equity stake in the JV while Foxconn will hold a minority stake. Vedanta intends to make an investment in the semiconductor chip manufacturing facility of up to Rs 66,000 crore. At the time, the company had stated that it would use a 28-nanometer (nm) fabrication to target electronics and smartphones.

Next Story
Infrastructure Energy

NTPC Signs $11.5 Billion Clean Energy Deals in Chhattisgarh

Juniper Green Energy has successfully commissioned a 100-MW solar power project aimed at supplying electricity to Bhutan, marking a significant milestone in regional energy integration. According to the company's statement, the project facilitates a crucial cross-border agreement allowing Bhutan to receive 50% of the power generated during the winter months. This arrangement permits Bhutan to directly import power from an Indian generator under an established bilateral trade framework. Located in Rajasthan, the solar project contributes a total generation capacity of 100 MW. Highlighting the..

Next Story
Infrastructure Energy

Juniper Green Commissions 100-MW Solar Project for Bhutan

The New Delhi Municipal Council (NDMC) held its first council meeting since the Delhi Assembly polls focusing on a comprehensive Summer Action Plan aimed at achieving 100% solar energy adoption by 2026. The meeting, led by MP Bansuri Swaraj, began with the swearing-in of three new NDMC members — Delhi Minister and New Delhi MLA Parvesh Sahib Singh, Delhi Cantt. MLA Virender Singh Kadian, and Ravi Kumar Arora, Additional Secretary of the Ministry of Housing and Urban Affairs. Solar Energy Push NDMC Vice Chairman Kuljeet Singh Chahal announced the civic body's ambitious solar energy plans, ..

Next Story
Infrastructure Energy

NDMC Pushes for 100% Solar Energy by 2026

Mumbai-based energy storage startup AmpereHour Energy has raised $5 million from Avaana Capital, with participation from UC Impower and other angel investors. Founded in 2017 by IIT Bombay alumni, AmpereHour Energy focuses on building AI/ML-enabled Energy Storage Systems ranging from kW/kWh scale systems for Mini-grids to MW/MWh scale systems compatible with solar PV and wind plants. The systems are designed to be plug-and-play, integrated with the company’s proprietary Energy Management platform, Elina. The fresh capital will be directed towards expanding manufacturing and software capabi..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?