Vedanta to invest $15 bn in semiconductor, display unit ventures
Technology

Vedanta to invest $15 bn in semiconductor, display unit ventures

The Vedanta Group, led by Anil Agarwal, is preparing for two individual ventures which may witness investments of around $15 billion in chip and display manufacturing space across the country.

One venture will be with the Hon Hai Technology Group, also known as Foxconn to manufacture 28-nanometer semiconductor chips, these will be based on a technology developed by Taiwanese multinationals. While the other is for a display manufacturing unit.

For the display unit venture, the company is having discussions with a minimum of seven global major companies which include Japan Display, LG, and Sharp for a potential partnership in technology or equity.

According to the managing director of Avanstrate (Vedanta Group firm), Akarsh Hebbar there are going to be two different special purpose vehicles (SPVs). There will be a 60:40 joint venture (JV) between Avanstrate and Foxconn for the chip (will bring in technology) manufacturing, wherein two equity partners are enough.

Currently, Avanstrate is searching for about 450 acres of land for both ventures. The locations are set in various parts of the country such as Maharashtra, Gujarat, Karnataka, and Tamil Nadu.

The two companies formed a joint venture (JV) for the manufacturing of semiconductors on February 14. In the electronics manufacturing space this JV was the first tie-up after the government announced the incentive policy.

Vedanta group is expected to commence the manufacturing of 28-nanometer chips that are used widely in India by 2026. It expects the production to reach about 60,000 units per month. The display venture is expected to be in place by 2024.

Image Source

Also read: Vedanta partners with Foxconn to produce semiconductors in India

The Vedanta Group, led by Anil Agarwal, is preparing for two individual ventures which may witness investments of around $15 billion in chip and display manufacturing space across the country. One venture will be with the Hon Hai Technology Group, also known as Foxconn to manufacture 28-nanometer semiconductor chips, these will be based on a technology developed by Taiwanese multinationals. While the other is for a display manufacturing unit. For the display unit venture, the company is having discussions with a minimum of seven global major companies which include Japan Display, LG, and Sharp for a potential partnership in technology or equity. According to the managing director of Avanstrate (Vedanta Group firm), Akarsh Hebbar there are going to be two different special purpose vehicles (SPVs). There will be a 60:40 joint venture (JV) between Avanstrate and Foxconn for the chip (will bring in technology) manufacturing, wherein two equity partners are enough. Currently, Avanstrate is searching for about 450 acres of land for both ventures. The locations are set in various parts of the country such as Maharashtra, Gujarat, Karnataka, and Tamil Nadu. The two companies formed a joint venture (JV) for the manufacturing of semiconductors on February 14. In the electronics manufacturing space this JV was the first tie-up after the government announced the incentive policy. Vedanta group is expected to commence the manufacturing of 28-nanometer chips that are used widely in India by 2026. It expects the production to reach about 60,000 units per month. The display venture is expected to be in place by 2024. Image Source Also read: Vedanta partners with Foxconn to produce semiconductors in India

Next Story
Infrastructure Energy

KPCL to Establish Solar Projects at Thermal Power Stations in Karnataka

In line with the Energy Department’s initiative to boost renewable energy capacity, Karnataka Power Corporation Limited (KPCL) will install ground-mounted solar power projects across three of its thermal power stations in the state. The 100.1 MW projects will be located at Ballari Thermal Power Station (BTPS), Yermarus Thermal Power Station (YTPS), and Raichur Thermal Power Station (RTPS), with an estimated cost of ?411.4 crore. The project will be overseen by Tehri Hydro Development Corporation (THDC), a public-sector enterprise under National Thermal Power Corporation Limited, which has a..

Next Story
Infrastructure Transport

Nitin Gadkari Emphasises Urgent Need for Enhanced Road Safety Measures

Union Minister for Road Transport and Highways, Nitin Gadkari, stressed the immediate need for improved road safety measures and urged the road construction sector to adopt new technologies and sustainable construction materials. Speaking at the two-day Global Road Infratech Summit & Expo (GRIS) in New Delhi, with the theme "Vision Zero: Sustainable Infratech and Policy for Safer Roads," Shri Gadkari pointed out that a significant number of road accidents in India occur due to inadequate civil engineering practices in road design, construction, and management, as well as poor road signage and ..

Next Story
Infrastructure Transport

BBMP Extends Deadline for KR Puram-Nayandahalli Tunnel DPR

Following a failed attempt at securing a consultancy firm for the Detailed Project Report (DPR) of the Hebbal-Silkboard vehicular tunnel in Bengaluru, the Bruhat Bengaluru Mahanagara Palike (BBMP) is now seeking firms to prepare the DPR for the 28 km double-decker tunnel connecting KR Puram and Nayandahalli. The BBMP extended the deadline for bid submissions to March 11 after receiving no responses initially. The BBMP had first invited tenders for the tunnel project on January 25 but faced no interest from consultancy firms. A second call for bids was made on February 15. The BBMP had also pr..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?