For the construction of the semiconductor plants, Gujarat provided Vedanta with both financial and non-financial subsidies, such as low-cost electricity. Now, Vedanta is set to build a $20 billion semiconductor plant in Gujarat.
According to two sources who spoke to Reuters, Vedanta Ltd. has chosen Gujarat, the home state of Indian Prime Minister Narendra Modi, for its semiconductor project. This is the first significant step in the company's $20 billion joint venture with Foxconn of Taiwan, reports mint.
According to the first source with information on the situation, Vedanta received financial and non-financial subsidies, such as capital expenditure and affordable electricity from Gujarat, to construct the semiconductor plants.
The source added, declining to be identified before an official declaration, that the venture will include display and semiconductor facilities close to Ahmedabad, the state's largest city.
According to a Reuters report from April, Vedanta had...
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