The state of Gujarat would receive investments totaling more than ?1.54 lakh crore from Vedanta Limited. Vedanta Displays Limited will invest ?94,500 crore to set up a Display Fab unit in Gujarat, and Vedanta Semiconductors Limited will invest Rs 60,000 crore to put up an integrated Semiconductor Fab unit and an OSAT facility there. Thus, the two memorandums of understanding will bring in a total investment of over Rs 1.54 lakh crores and create almost 1 lakh new job opportunities in the state.
The Vedanta and Foxconn Group’s proposed investment for the establishment of India’s first display manufacturing facility and an integrated semiconductor fab unit with an OSAT facility will further aid in the growth of upstream and downstream electronics manufacturing clusters and establishing of healthy trade linkages. In order to create high-tech clusters with the necessary infrastructure, such as land, semiconductor grade water, high quality power, logistics, and a skill ecosystem, the Vedanta and Foxconn Group will collaborate closely with the state government.
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Note: The above-mentioned news was first published by us in our ProjectX India | 15th September 2022 edition. Click here to buy this issue. Access Semiconductor news, projects, tenders, and contract award information in each fortnightly issue of ProjectX India PDF version. Go for an annual subscription and get access to 24 issues in a year.