Vedanta-Foxconn expect new semiconductor factory breakeven in five years

The Vedanta-Foxconn JV hopes to break even in the following four to five years after signing an MoU with Gujarat for India's first $20 billion semiconductor and display fabrication (fab) project close to Ahmedabad. According to reports, the project's first phase will cost $10 billion and take two to three years to complete. In four to five years, the JV wants to reach break-even. In accordance with the MoU, Vedanta Semiconductors would invest Rs 600 billion to build an OSAT facility and an integrated semiconductor fab unit, while Vedanta Displays will contribute Rs 945 billion to build a display fab unit. Together, the two MoUs will bring in more over Rs 1.54 trillion in investment, creating about 100,000 direct jobs in the state. Also read: Vedanta, Foxconn enter JV for semiconductor project in Gujarat Sterlite’s Serentica Renewables to build RE projects serving C&I consumers