Vedanta, Foxconn to invest $19.5 billion in Gujarat for semiconductor chip project
Vedanta Limited and Taiwan’s Foxconn will invest $19.5 billion in Gujarat. The Gujarat government on Tuesday signed an agreement with the two companies to set up a semiconductor project in PM Narendra Modi’s home state.
The two companies are planning to set up another semiconductor project and showroom in Ahmedabad, Gujarat.
Gujarat Chief Minister Bhupendra Bhai Patel said the plant would create 100,000 jobs in the state. He also said that the state will continue to support this project so that it can catch up with the richest state of Maharashtra in the near future.
Foxconn said the state’s infrastructure and active cooperation encourage the establishment of semiconductor industries.
The Government of India has launched a $10 billion scheme for investors in semiconductor manufacturing.
National Desk, Ne India News