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

29 Apr 2022 CW Team

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

Real Estate

13 Oct 2026

Adani begins construction of Dharavi rehabilitation homes

Construction of rehabilitation homes for eligible Dharavi residents has commenced at the 22-acre Matunga railway site, following a Bhoomi Poojan ceremony performed by Pranav Adani, Director, Adani Enterprises (AEL). The project, being implemented by Adani Navbharat Developers (ANDPL), envisages 10 towers comprising 10,432 rehabilitation apartments and 1,379 commercial and industrial units.Under the in-situ rehabilitation scheme, eligible residents will receive homes measuring 350 sq ft. Residents from Sectors 6 and 1 will be accommodated at Matunga first, followed by nearly 4,500 apartments fo..

Adani begins construction of Dharavi rehabilitation homes

Construction of rehabilitation homes for eligible Dharavi residents has commenced at the 22-acre Matunga railway site, following a Bhoomi Poojan ceremony performed by Pranav Adani, Director, Adani Enterprises (AEL). The project, being implemented by Adani Navbharat Developers (ANDPL), envisages 10 towers comprising 10,432 rehabilitation apartments and 1,379 commercial and industrial units.Under the in-situ rehabilitation scheme, eligible residents will receive homes measuring 350 sq ft. Residents from Sectors 6 and 1 will be accommodated at Matunga first, followed by nearly 4,500 apartments fo..

Seven Propel 470 HEV electric tippers go to work on coal haulage in Chhattisgarh

Propel EV, the electric mobility division of Propel Industries and India's No. 1 electric tipper brand, has deployed seven 470 HEV electric trucks with a leading coal-haulage contractor at one of India's largest opencast coal mines in Chhattisgarh. The trucks are in daily operation, moving coal on continuous haul cycles in one of the most demanding applications in Indian mining.Why Electric - and Why CoalCoal haulage runs round the clock: heavy loads, long haul cycles, steep ramps and abrasive dust. It is also where diesel hurts most. Engines run continuously, fuel is the largest single operat..

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

Related Stories

Gold Stories

Adani begins construction of Dharavi rehabilitation homes

Adani begins construction of Dharavi rehabilitation homes

Seven Propel 470 HEV electric tippers go to work on coal haulage in Chhattisgarh

Related Articles

Latest Updates

Recommended for you

Advertisement

Subscribe to Our Newsletter

STAY CONNECTED

Advertisement

Modal Heading

First Name *

Last Name *

Industry *

Email Address *

Mobile Number *

Password *

Confirm Password *

Subscribe to our Newsletter

Email Address *

Password *

Please enter the details

Email Address

Modal Heading

First Name *

Last Name *

Industry *

Email Address *

Mobile Number *

Password *

Confirm Password *

Subscribe to our Newsletter

Email Address *

Password *

Please enter the details

Email Address