Vedanta Group remains committed to building India’s first semiconductor and display fabs at Dholera Special Investment Region in Gujarat, and substantial progress has happened to tie up technology and equity partners in semiconductors, a senior executive said on Tuesday.
Akarsh K. Hebbar, global MD of Vedanta Semiconductors and Display, said the company will await government 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 self-reliant in electronics,” Hebbar said.
Last week, Foxconn announced its withdrawal from the semiconductor joint venture with oil-to-metals conglomerate Vedanta.
Foxconn later said it is working on separate plans to apply for incentives under the semiconductor and display fab programme.
Hebbar said that Vedanta Group is “fully committed” to building India’s first semiconductor and display fabs in Gujarat.
“Substantial progress has happened to tie up technology and equity partners in semiconductors and we will make an announcement soon,” Hebbar added.
“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 Government of Gujarat has allotted us the land in Dholera and work is already underway to prepare it for construction of the fabs,” Hebbar said.
Hebbar added: “In display fab, we have a partnership with Innolux and are ready to proceed with speed with full support of our partner.”
Vedanta group chairman Anil Agarwal had said last week that the company will enter the market for the manufacturing of chips and displays this year, days after Foxconn pulled out of a $19.5 billion chipmaking project.
Separately, Gujarat is holding talks with Foxconn over a semiconductor plant, while the Taiwanese company had said it intends to apply for incentives under India’s semiconductor production plan. With inputs from Reuters
