Vedanta and Foxconn form joint venture for semiconductor project
Mining major business group Vedanta Limited has signed a joint venture (JV) agreement with Taiwan's Foxconn. The JV is for a semiconductor project in Gujarat. As per the information available Vedanta obtained financial and non-financial subsidies including on capital expenditure and cheap electricity from Gujarat to build the semiconductor plants.
The project would include display and semiconductor facilities near the largest city of Ahmedabad.