Vedanta-Foxconn sees Guj semiconductor plant reaching break-even in 5 yrs

Signs MoU with state govt; Vedanta to invest $10 billion of the $20 billion earmarked for the project in the first phase

Having signed a memorandum of understanding (MoU) with the Gujarat government for India’s first $20-billion  semiconductor and display fabrication (fab) project near Ahmedabad on Tuesday, the Vedanta-Foxconn joint venture (JV) is hoping to break even in the next four-five years.

Vedanta Group Chairman Anil Agarwal told mediapersons after the MoU signing that the first phase of the project will see an investment of $10 billion over two-three years. The JV, he said, aims to break even in four-five years.

“The investment will be funded through internal accruals. There is a huge rush among major countries for developing semiconductor capabilities and India will