Vedanta to invest $15 bn in semiconductor, display unit ventures
Technology

Vedanta to invest $15 bn in semiconductor, display unit ventures

The Vedanta Group, led by Anil Agarwal, is preparing for two individual ventures which may witness investments of around $15 billion in chip and display manufacturing space across the country.

One venture will be with the Hon Hai Technology Group, also known as Foxconn to manufacture 28-nanometer semiconductor chips, these will be based on a technology developed by Taiwanese multinationals. While the other is for a display manufacturing unit.

For the display unit venture, the company is having discussions with a minimum of seven global major companies which include Japan Display, LG, and Sharp for a potential partnership in technology or equity.

According to the managing director of Avanstrate (Vedanta Group firm), Akarsh Hebbar there are going to be two different special purpose vehicles (SPVs). There will be a 60:40 joint venture (JV) between Avanstrate and Foxconn for the chip (will bring in technology) manufacturing, wherein two equity partners are enough.

Currently, Avanstrate is searching for about 450 acres of land for both ventures. The locations are set in various parts of the country such as Maharashtra, Gujarat, Karnataka, and Tamil Nadu.

The two companies formed a joint venture (JV) for the manufacturing of semiconductors on February 14. In the electronics manufacturing space this JV was the first tie-up after the government announced the incentive policy.

Vedanta group is expected to commence the manufacturing of 28-nanometer chips that are used widely in India by 2026. It expects the production to reach about 60,000 units per month. The display venture is expected to be in place by 2024.

Image Source

Also read: Vedanta partners with Foxconn to produce semiconductors in India

The Vedanta Group, led by Anil Agarwal, is preparing for two individual ventures which may witness investments of around $15 billion in chip and display manufacturing space across the country. One venture will be with the Hon Hai Technology Group, also known as Foxconn to manufacture 28-nanometer semiconductor chips, these will be based on a technology developed by Taiwanese multinationals. While the other is for a display manufacturing unit. For the display unit venture, the company is having discussions with a minimum of seven global major companies which include Japan Display, LG, and Sharp for a potential partnership in technology or equity. According to the managing director of Avanstrate (Vedanta Group firm), Akarsh Hebbar there are going to be two different special purpose vehicles (SPVs). There will be a 60:40 joint venture (JV) between Avanstrate and Foxconn for the chip (will bring in technology) manufacturing, wherein two equity partners are enough. Currently, Avanstrate is searching for about 450 acres of land for both ventures. The locations are set in various parts of the country such as Maharashtra, Gujarat, Karnataka, and Tamil Nadu. The two companies formed a joint venture (JV) for the manufacturing of semiconductors on February 14. In the electronics manufacturing space this JV was the first tie-up after the government announced the incentive policy. Vedanta group is expected to commence the manufacturing of 28-nanometer chips that are used widely in India by 2026. It expects the production to reach about 60,000 units per month. The display venture is expected to be in place by 2024. Image Source Also read: Vedanta partners with Foxconn to produce semiconductors in India

Next Story
Infrastructure Energy

South West Pinnacle Wins Rs 30 Cr Oman Mining Contract

South West Pinnacle Exploration Ltd has secured a Rs 30 crore contract from Minerals Development Oman (MDO) for mining exploration in concession areas 12B and 13.The two-year project will be carried out via Alara Resources LLC, a JV in Oman. MDO, backed by Oman’s investment authorities, focuses on monetising mineral wealth.The contract covers copper, gold, and chromite and highlights South West Pinnacle’s growing footprint in international exploration and mining services. ..

Next Story
Equipment

Godrej GEG Boosts Intralogistics with AI and Green Tech

Godrej Enterprises Group (GEG) is revolutionising warehouse and factory logistics through its Material Handling Equipment and Storage Solutions arms by integrating AI, IoT, and automation.With 20–25% market share and 85% local sourcing, GEG champions Atmanirbhar Bharat and sustainability. The Chennai plant, a green manufacturing leader, uses RoHS-compliant materials and has slashed energy consumption by 60%.GEG serves e-commerce, FMCG, retail, and cold chains with high-performance racking and electric forklifts. Upcoming IoT-enabled forklifts and telematics solutions aim to improve speed, sa..

Next Story
Infrastructure Urban

Amit Shah Inaugurates Key Projects Across Gujarat

Union Home Minister Amit Shah inaugurated and laid the foundation stone for various projects in Gujarat’s Panchmahal district and Ahmedabad.In Godhra, he inaugurated the Center of Excellence building, sports complex, reservoir, and Miyawaki plantation. In Ahmedabad, he unveiled a new cooperative complex in Adaroda village and a primary school in Juwal.These projects, under the Model Co-op Village scheme, aim to boost education, sustainability, and rural development across the state. ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?