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Vedanta to Invest $20 Billion in Semiconductor Biz in India
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BY CEOInsights Team, 0
"Semiconductor is a longterm business. We are looking at about $10 billion on display. Right now, we are looking at $7 billion in semiconductors, and that may also go up
by another $3 billion to further extend it. First 10 years, we have engaged to invest up to $15 billion. We will evaluate further investment at a later stage", Avanstrate's Managing Director, Akarsh Hebbar said.
Avanstrate has applied for setting-up a semiconductor plant and a display manufacturing unit. Vedanta has signed a memorandum of understanding with electronics manufacturing services giant Foxconn to form a joint venture company that will manufacture semiconductors in India. Vedanta is the first company to make the announcement to invest in semiconductor manufacturing after the government announced a $10 billion (Rs. 76,000 crore) program to boost electronic chip and display ecosystem in the country.
Vedanta has signed a memorandum of understanding with electronics manufacturing services giant foxconn to form a joint venture company that will manufacture semiconductors in india
Avanstrate has applied for setting-up a semiconductor plant and a display manufacturing unit. Vedanta has signed a memorandum of understanding with electronics manufacturing services giant Foxconn to form a joint venture company that will manufacture semiconductors in India. Vedanta is the first company to make the announcement to invest in semiconductor manufacturing after the government announced a $10 billion (Rs. 76,000 crore) program to boost electronic chip and display ecosystem in the country.