Engaged with 100 global suppliers to build chip, display fabs in India: Vedanta

  • IANS
  • Stock Market News
Engaged with 100 global suppliers to build chip, display fabs in India: Vedanta
Credit: © Reuters.

New Delhi, July 18 (IANS) The Vedanta (NS: VDAN ) Group on Tuesday said it remains committed to building India’s first semiconductor and display fabs in Gujarat, and has already engaged with more than 100 global suppliers and ancillary industries.The statement came after Taiwanese chip-making giant Foxconn withdrew from a joint venture to manufacture chips with India-based industrial giant.

According to Vedanta Semiconductors and Display Global MD Akarsh K. Hebbar, Vedanta Group remains fully committed to building India’s first semiconductor and display fabs in Dholera Special Investment Region in Ahmedabad district.

“Substantial progress has happened to tie up technology and equity partners in semiconductors and we will make an announcement soon,” he said.

He said that the state government has allotted the land in Dholera and work is already underway to prepare it for construction of the fabs. “In display fab, we already have a partnership with Innolux and are ready to proceed with speed with full support of our partner,” Hebbar said.

The company is currently awaiting the government’s nod to its applications under the modified scheme for semiconductor and display fabs.

“Thereafter, we will immediately begin construction and set out on the path to make India atmanirbhar in electronics in line with the vision of our Prime Minister,” said Hebbar.

Last week, Vedanta Chairman Anil Agarwal said that he is 100 per cent committed to produce semiconductors and display glass in India and have lined up partners for the same.

--IANS

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