New Delhi: The day after the government announced a mega incentive package to bring semiconductor investment to the country, Anil Agarwal’s Vedanta Group has said that it will invest up to the RS 60,000 Crore to establish a sophisticated glass chip and ecosystem in India for the next three years.
It also completed technology and equity partnerships and joint ventures with top fabrication makers throughout the world.
This is the second agreed effort to bring semiconductor investment to India.
The new fee will be led through Avanstrate, a Japanese glass substrate manufacturer which was acquired by Vedanta in December 2017 from the Carlyle Group.
“We are in the final stage of negotiations with various state governments to establish factories that need between 250 hectares and 400 hectares.
The overall investment into the project will range from $ 6 billion (RS 45,000 Crore) and $ 8 billion (RS 60,000 Crore) in The first two phases, after we will carry out a further assessment of the market for expansion, “Akarsh Hebbar, the implementing director of Avanstrate, told TII.
Hebbar said Avanstrate in discussions with the government in Haryana, Gujarat, Maharashtra, Telangana, Tamil Nadu and Karnataka to establish their factories and for incentives.
“We hope to get additional 10-15% capital investment support from the country where we invest, regardless of the central government subsidies.” Investment will be for large facilities for glass displays and fabrication chips, apart from the LCD module factory, sewar words, and add that the company is in talks with the top global semiconductor manufacturers such as TSMC Taiwan makers, United Microelectronics Corp.
and Foxconn, Korea, Korea LG and Samsung , and sharp Japanese.
Talks can lead to technological partnerships, or combined equity investments through joint ventures.
“We intend to complete our plan for the next few months.” Hebbar said Vedanta group and the chairman Agarwal was bullish on the prospect of the semiconductor industry in India, especially considering the strong demand from the consumer electronic segment, the sectors of the car and sectors.
India does not have a chip manufacturing ecosystem, although it becomes a significant consumption market for industries led by semiconductors, and only depends on expensive imports.
“Our group funding will go through equity and debt, regardless of potential partnerships,” Hebbar said, adding around 80% of production will be used for the domestic market, while the break will be for export
Vedanta to put Rs 60k Crore to semiconductors
