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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

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: May 25 2022 | 8:51 PM IST

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