Vedanta Ltd in a race to become India's first chip maker
ROADS & HIGHWAYS

Vedanta Ltd in a race to become India's first chip maker

Vedanta Ltd is seeking 1,000 acres of free land from states and other incentives for its $20 billion foray into semiconductor and display manufacturing in a race to become India's first chip maker.

In February, the oil-to-metals conglomerate said it would diversify into chip manufacturing and declared plans to form a joint venture (JV) with Taiwan's Foxconn to support Prime Minister Narendra Modi's plans to create India a semiconductor manufacturing hub.

Under a Modi programme offering fiscal support, though Vedanta is seeking federal incentives, it is separately asking states for 1,000 acres of land free of cost on a lease for 99 years.

It requires 700 acres for its facility and the remainder for ancillaries.

Vedanta has told state governments that its operations would help them generate tax revenues of $2.2 billion over 20 years and create up to 100,000 direct and indirect jobs, said the first source.

The company is in the advanced stages of reviewing proposals from at least three Indian states, Telangana and Maharashtra in the west and Karnataka in the south.

More corporations and nation-states, including India, are examining ways to have seamless access to chips, which is at the core of many future critical technologies.

Most of the world's chip output is confined to a few countries like Taiwan and the United States (US). India is now actively attracting companies, saying it wants to usher in a new era in electronics manufacturing in December.

From $15 billion in 2020, the Indian semiconductor market is likely to reach $63 billion by 2026.

Generally, chip plants consume electricity and water in large quantities, and their erratic supplies often trouble the industry in India.

Image Source

Also read: Vedanta to sell 25% stake each in 3 Sterlite Technologies units

Vedanta Ltd is seeking 1,000 acres of free land from states and other incentives for its $20 billion foray into semiconductor and display manufacturing in a race to become India's first chip maker. In February, the oil-to-metals conglomerate said it would diversify into chip manufacturing and declared plans to form a joint venture (JV) with Taiwan's Foxconn to support Prime Minister Narendra Modi's plans to create India a semiconductor manufacturing hub. Under a Modi programme offering fiscal support, though Vedanta is seeking federal incentives, it is separately asking states for 1,000 acres of land free of cost on a lease for 99 years. It requires 700 acres for its facility and the remainder for ancillaries. Vedanta has told state governments that its operations would help them generate tax revenues of $2.2 billion over 20 years and create up to 100,000 direct and indirect jobs, said the first source. The company is in the advanced stages of reviewing proposals from at least three Indian states, Telangana and Maharashtra in the west and Karnataka in the south. More corporations and nation-states, including India, are examining ways to have seamless access to chips, which is at the core of many future critical technologies. Most of the world's chip output is confined to a few countries like Taiwan and the United States (US). India is now actively attracting companies, saying it wants to usher in a new era in electronics manufacturing in December. From $15 billion in 2020, the Indian semiconductor market is likely to reach $63 billion by 2026. Generally, chip plants consume electricity and water in large quantities, and their erratic supplies often trouble the industry in India. Image Source Also read: Vedanta to sell 25% stake each in 3 Sterlite Technologies units

Next Story
Real Estate

Bennet & Bernard Unveil Dutch-Inspired ‘Casa El Toledo’ in Goa

Bennet & Bernard Group, Goa’s leading luxury real estate developer, has launched its newest project, Casa El Toledo, in Assagao. The enclave features 18 ultra-luxury 4 BHK Dutch-style villas blending European charm with tropical elegance. Each villa includes a private pool, double-height ceilings, open courtyards, alfresco dining areas, and English-inspired landscaping. The interiors are curated by noted Dutch designer Kelly Marie.   Reflecting the grandeur of the Dutch Golden Age, Casa El Toledo harmonises heritage aesthetics with modern sensibilities. Expansive interiors flow..

Next Story
Equipment

Godrej Delivers Heaviest Ecolaire Surface Condenser to US Project

Godrej Enterprises Group’s Process Equipment business has manufactured and delivered its heaviest Ecolaire® Surface Condenser to date, weighing nearly 450 metric tonnes, for a power-generation project in the United States. The project, powered by natural gas and partly designed for hydrogen compatibility, marks another step in advancing clean energy systems. Produced at the company’s GreenCo-certified Dahej facility in Gujarat, the equipment demonstrates India’s growing engineering capabilities and reinforces Godrej’s ‘Make in India for the World’ vision.  Hussain S..

Next Story
Infrastructure Energy

India, Brazil Discuss Energy Ties And Oil Investments

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri held discussions with Celso Luis Nunes Amorim, Special Advisor to the President of Brazil, and senior Brazilian officials to strengthen bilateral cooperation in the oil, gas, and energy transition sectors. The talks took place during a dinner hosted by Kenneth H da Nobrega, Ambassador of Brazil to India, at his residence in New Delhi.Mr Puri said the meeting focused on Indian investments in Brazil’s oil and gas sector, as well as expanding collaboration in energy transition and biofuels. “The enriching conversation revolved ar..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?