Vedanta: Semiconductor space: Vedanta to invest up to $20 billion in India’s chip industry, rolling out by 2025
Vedanta Group company Avanstrate, which will lead the semiconductor business, plans to roll out microchips and displays from Indian fabs by 2025, the head of the semiconductor arm of the firm said on Friday. group.
“Semiconductors is a long-term business. We’re looking at around US$10 billion. Right now we’re looking at $7 billion in semiconductors which could also grow another $3 billion for the expand. have committed to invest up to $15 billion. We will assess further investments at a later stage,” Avanstrate chief executive Akarsh Hebbar told PTI.
Avanstrate requested the creation of a semiconductor factory and a screen manufacturing unit.
Vedanta has signed a memorandum of understanding with electronics manufacturing services giant Foxconn to form a joint venture that will manufacture semiconductors in India.
Vedanta is the first company to announce plans to invest in semiconductor manufacturing after the government announced a $10 billion (Rs 76,000 crore) scheme to boost the microchip and display ecosystem in the country.