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'Vedanta to finalise $20-bn Indian chip, display unit site by mid-June'

Chairman Anil Agarwal said on the sidelines of the annual World Economic Forum the first phase of Vedanta's project will entail an investment of $2 bn

Anil Agarwal, Vedanta Chairman
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Vedanta is seeking incentives from Modi's government and is also in talks with several Indian states on the unit's location.

Reuters Davos
Vedanta will finalise a location for its $20 billion semiconductor and display plants in India by mid-June and will have the first chip product ready in two years, its Chairman Anil Agarwal said on Wednesday.

Oil-to-metals conglomerate Vedanta said in February it will diversify into chip manufacturing and announced plans to form a joint venture with Taiwan's Foxconn to support Prime Minister Narendra Modi's drive to make India a semiconductor manufacturing hub.

Vedanta has a total planned investment outlay of $20 billion for two separate units for chip and display manufacturing.

"Foxconn is our technical partner. We may not take

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