News > Vedanta-Foxconn plans to start construction of Semiconductor plant in Dholera by year-end: CEO David Reed
Vedanta-Foxconn plans to start construction of Semiconductor plant in Dholera by year-end: CEO David ReedPosted :Monday 24th of April 2023 12:41:37 PM
Dholera: The Vedanta Group is planning to start building its Rs 1.5 lakh crore semiconductor plant by the fourth quarter of this year, and the company expects to generate revenue through electronic chip production by 2027.
According to the CEO of Vedanta-Foxconn Semiconductors Limited, David Reed, the group has already submitted all technology tie-ups to the government, and the banks have provided funding in the ratio of 70 to 30, after subsidies were applied.
Reed added that the initial production phase of the semiconductor plant will begin with 5,000 wafers in the first half of 2027, which will be gradually increased to 40,000 wafers per month. Furthermore, Vedanta will establish an OSAT plant to process semiconductor wafers to make them usable by automobile and electronics companies.
The joint venture between Vedanta and Foxconn has finalised the Dholera Special Investment Region as the site for their manufacturing facility.