Vedanta-Foxconn selects Dholera SIR for semiconductor facility
Vedanta-Foxconn – According to a senior state government official, a joint venture of Indian conglomerate Vedanta and electronics manufacturing giant Foxconn has finalised the Dholera Special Investment Region near Ahmedabad city in Gujarat for the establishment of their semiconductor and display manufacturing facility.
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In the largest corporate investment in independent India’s history, a joint venture of Vedanta and Foxconn signed a Memorandum of Understanding (MoU) with the Gujarat government in September last year to invest Rs 1,54,000 crore to set up the plant in the state. This will be India’s first semiconductor manufacturing facility.
The joint venture company had not disclosed the exact location of the facility at the time.
“The joint development entity of Vedanta and Foxconn has selected Dholera SIR for the establishment of their semiconductor and display manufacturing facility after conducting a thorough site analysis in consultation with Gujarat government officials. The project is currently being evaluated by the Indian government,” the official said.
Vedanta-Foxconn
The Memorandum of Understanding was signed in Gandhinagar last September in the presence of Ashwini Vaishnaw, Minister of Railways, Communications, Electronics, and Information Technology.
Both companies would invest Rs 1,54,000 crore to build the facility in Gujarat, creating one lakh jobs, Gujarat Chief Minister Bhupendra Patel said on the occasion. Patel also stated that his government will work with the facility to ensure its success.
Notably, Prime Minister Narendra Modi, speaking at a poll rally in Bhavnagar in November ahead of the Assembly elections, stated unequivocally that the mega semiconductor plant will be built at Dholera SIR, nearly 100 kilometres from Ahmedabad.
According to a government official, Gujarat is the first state in the country to have such a dedicated policy for the semiconductor and display fabrication sector.
Under this policy, eligible projects will receive a 75% subsidy on the first 200 acres of land purchased for the establishment of manufacturing units. For the first five years, eligible projects will receive high-quality water at a cost of Rs 12 per cubic metre.
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