Vedanta And Foxconn to Invest 1.54 Lakh Crore

September 15, 2022

The Anil Agarwal-led-Vedanta Limited and Foxconn Group will invest more than Rs 1.54 lakh crore to set up an semiconductor ecosystem in Gujarat.
The oil-to-metals conglomerate said Vedanta Displays Limited will set up a Display Fab Unit with an investment of Rs 94500 crore and Vedanta Semiconductors Limited will set up an integrated Semiconductor Fab Unit and OSAT (Outsourced Semiconductor Assembly and Test) facility with investment of Rs 60000 crore.
The proposed semiconductor manufacturing fab unit will operate on the 28nm technology nodes with wafer size 300mm; and the display manufacturing unit will produce Generation 8 displays catering to small, medium and large applications.
Foxconn is a Taiwanese multinational electronics contract manufacturer with its headquarters in New Taipei City, Taiwan, established in 1974.
According to the Japanese financial firm Nomura’s report, only three of the 56 companies, that decided to relocate from China after COVID Pandemic, moved to India.
Foxconn is one of them which will be assembling iPhones in India.