Vedanta Resources Chairman Anil Agarwal on Saturday said its semiconductor and display manufacturing unit in Gujarat will be commissioned within two-and-a-half years of the groundbreaking ceremony. Semiconductor chips used in cars, mobile phones and other electronic devices are not manufactured India in present.
Speaking at the HT Leadership Summit, Agarwal said, “My heart and soul is in this and the way the government is supporting, the state government is supporting… I have no doubt that within two-and-a-half years (the production of the groundbreaking ceremony will start)).” A joint venture of Indian conglomerate Vedanta and Taiwanese electronics manufacturing giant Foxconn signed an MoU with the Gujarat government earlier to set up a semiconductor and display manufacturing unit in the state.
Vedanta-Foxconn will invest Rs 1,54,000 crore to set up the facility in Gujarat, which will create one lakh job opportunities, Chief Minister Bhupendra Patel said after the MoU was signed.
Of the total investment of Rs 1,54,000 crore, Rs 94,000 crore will go into setting up a display manufacturing unit, while Rs 60,000 crore will be invested in a semiconductor manufacturing facility.
Agarwal said that a scientific plan has been prepared for the plant. Stating that an independent committee, comprising very good consultants, which went around five to six states to zero in on a site for the plant, found that Gujarat was the best option, as it has the right climate and it Also providing better facilities. Unit.
“We are setting up a plant there (in Gujarat),” he said.
“We had gone to Maharashtra… Maharashtra will be set up downstream which will be bigger than Gujarat,” said Agarwal.
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