Vedanta ties up with tech partners for chips facility
Vedanta Group has tied up with technology and equity partners for its semiconductor fabrication project and with Innolux for its display fab unit, Akarsh Hebbar, global managing director of Vedanta Semiconductors and Display, said in a statement on Tuesday. “Vedanta Group remains fully committed to building India’s first semiconductor and display fabs in Dholera Special Investment Region in Ahmedabad district. Substantial progress has happened to tie up with technology and equity partners in semiconductors and we will make an announcement soon," he said.
“In display fab, we have a partnership with Innolux and are ready to proceed with full support of our partner," Hebbar added. Innolux is a Taiwan-based manufacturer of high-end LCD display and touch panels. Innolux owns 14 TFT-LCD fabs and three touch sensor fabs in Taiwan.
The company is yet to announce its partnership with Vedanta. Hebbar did not specify the investments the group will make towards both the units, or clarify whether the investment figures will change following its split with esrtwhile joint venture (JV) partner Foxconn. The top executive said that the company had engaged with more than 100 global suppliers and ancillary industries that will form a key part of the semiconductor and display ecosystem.
He said the Gujarat government had allotted land in Dholera and work was already underway to prepare it for construction of the fabs. A senior government official, however, said that central government approval and a letter of award were necessary for land allocation and beginning work in the designated area, noting that the letter had not been given to the company. The official added that the Vedanta-Foxconn JV had put in the application under the previous
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