Vedanta-Foxconn likely to get conditional approval for fab plant

But Foxconn, the largest EMS player in the world, buys over $40 billion worth of semiconductor chips annually for its customers

The government is considering giving conditional clearance to the Vedanta-Foxconn joint venture semiconductor fab plant. The nod is likely to come with some stiff riders.

“We are considering giving Vedanta-Foxconn conditional clearance and including various riders which they have to fulfill within the stipulated time, such as signing up binding agreements with partners and technology players,” said a government official.

The proposed Vedanta-Foxconn fab plant has come under close scrutiny with many saying that it has still not been able to tie up binding agreements with a manufacturing grade technology provider, one of the key conditions for clearance. 

However, the joint venture has