Waiting for govt nod to semiconductor application under new scheme: Vedanta

Substantial progress has happened to tie up technology and equity partners in semiconductors and we will make an announcement soon,” said Hebbar. 
Vedanta. (File photo | AP)
Vedanta. (File photo | AP)

NEW DELHI: Vedanta semiconductor head Akarsh K Hebbar on Tuesday said the company is waiting for the government’s approval for its applications under the modified scheme for semiconductor and display fabs. He said once approval for the application is granted the company will immediately begin construction at Gujarat plant.

“Vedanta Group remains fully committed to building India’s first semiconductor and display fabs in Dholera Special Investment Region in Ahmedabad district, Gujarat. Substantial progress has happened to tie up technology and equity partners in semiconductors and we will make an announcement soon,” said Hebbar.

The comments come after Anil Agarwal-led Vedanta and electronics manufacturing giant Foxconn on July 10 called off their joint venture, which planned to invest $19.5 billion to set up a semiconductor manufacturing unit in Gujarat.

Both companies have decided to apply separately for the semiconductor fab in India. Earlier Vedanta-Foxconn Semiconductors had resubmitted the application in 40 nm technology node, which is under evaluation. 

The company mentioned that in display fabs, it has a partnership with Innolux and are ready to proceed with speed with full support of its partner.  “We continue to achieve key milestones in our progress. We have engaged with more than 100 global suppliers and ancillary industries who will form a key part of the semiconductor and display ecosystem. The Gujarat government has allotted us land in Dholera and work is underway to prepare it for construction of the fabs,” he added.

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