AHMEDABAD: Vedanta Group signed a memorandum of understanding with some 30 Japanese tech firms, the company announced on Tuesday.
The group, in collaboration with Taiwanese chipmaker Foxconn, has invested $20 billion to set up a semiconductor manufacturing facility in Dholera.
The collaborations with these Japanese firms will aid in the development of Indian semiconductor and glass display manufacturing systems.
“Vedanta is focussed on taking the lead in creating the electronics industry ecosystem rather than just technology transfers. We are excited as this comprehensive plan has potential to generate business opportunities of over $40 billion for our partners in the coming years,” said Akarsh Hebbar, global MD – display and semiconductor business, Vedanta.
“Dholera region in Gujarat shall be developed along the lines of global science parks and has all required infrastructure in place. With Vedanta acting as an anchor unit, the region will be developed for 1000+ MSMEs to create a sustainable economic environment for hi-tech SCM,” said Vijay Nehra, director, Technology Mission – Gujarat.
Vedanta-Foxconn has inked an MoU with the state government for setting up the semiconductor fab unit, a display fab unit, a semiconductor assembling and testing unit here. The project has an employment potential of at least 1 lakh persons according to the company.
