Vedanta-Foxconn joint venture to set up India’s first chip factory

Mining conglomerate Vedanta and Taiwanese electronics manufacturing giant Foxconn will make one of the largest-ever investments of Rs 1.54 lakh crore in setting up India’s first semiconductor plant in Gujarat.

The 60:40 joint venture of Vedanta-Foxconn will set up a semiconductor fab unit, a display fab unit, and a semiconductor assembling and testing unit on a 1000-acre land in the Ahmedabad district.