News > Vedanta still in race for chip plant, ready to invest Rs 1.5 lakh crore
Vedanta still in race for chip plant, ready to invest Rs 1.5 lakh crorePosted :Monday 12th of June 2023 01:08:52 PM
Vedanta Foxconn, which announced to manufacture semiconductor chips in Dholera, is still determined to invest in Gujarat. Vedanta Foxconn Semiconductor Ltd appointed US semiconductor expert David Reed as CEO in April. Reid has been visiting Gujarat for two days. He visited Dholera on Thursday and met top officials of the state government on Friday.
New CEO of Vedanta Foxconn visits Dholera
According to sources in the Gujarat government, Reed discussed the details including the location for the semiconductor plant and facilities to be found in Dholera, transportation facilities and future townships. Apart from this, he also got details about the semiconductor policy of the Gujarat government. They also discussed the policies of the Gujarat government for their new plant in Dholera.
Earlier there were reports that the central government had not approved Vedanta Foxconn's plant.
The company's investment of 1.54 lakh crore rupees has also been managed,
however, the company discussed with the government and said that they will definitely start their plant in Gujarat and for that, the company's investment of 1.54 lakh crore rupees has also been managed. It is also known that this misconception has spread as the central government is considering extending the 45-day period fixed for applying under the policy with the aim of making the benefits of the semiconductor policy available to more companies.
The company will manufacture chips from 28 nanometers to 40 nanometers.Vedanta
Foxconn will also start manufacturing semiconductor chips and display fabs in Gujarat in the coming days. Under this, the company will make chips from 28 nanometers to 40 nanometers. Apart from this, 100 other semiconductor based companies will also come in its vicinity. Employment opportunities for 1 lakh people will also arise here in the coming days.
Gujarat government will provide relief up to 10 thousand crores of rupees 1
were to provide assistance to investors under its semiconductor policy to the tune of 76 thousand crores of rupees. For this, the government may also announce assistance up to 50 percent of the cost of setting up their plant to the incoming units. Gujarat government will pay assistance up to 10 thousand crore rupees according to its policy.