Vedanta-Foxconn to invest Rs 1.54 lakh crore to set up semiconductor plant in Gujarat

A joint venture of the Indian conglomerate Vedanta and Taiwanese electronics manufacturing giant Foxconn signed a Memorandum of Understanding with the Gujarat government on Tuesday to set up a semiconductor and display manufacturing unit in the state.

Vedanta-Foxconn would invest Rs 1,54,000 crore to set up the facility in Gujarat, which would create one lakh job opportunities, Chief Minister Bhupendra Patel said after the MoU was signed in the presence of Union Minister for Railways, Communications, Electronics & Information Technology, Ashwini Vaishnaw, at a function in Gandhinagar.