Gandhinagar: Gujarat will be the site of a joint venture between Vedanta Ltd and Taiwan’s Foxconn for their $20 Billion Semiconductor project.

According to the sources quoted by news agency Reuters in a report, Vedanta has already obtained financial and non-financial subsidies including on capital expenditure and cheap electricity from Gujarat to build the semiconductor plants.

As the official announcement is yet to be made, a source without being named told the media that “The project will include display and semiconductor facilities near Ahmedabad.”

Reuters had reported in April that Vedanta had sought 1,000 acres of land on a 99-year lease for free and water and power at concessionary and fixed prices for 20 years.

However, the Spokesperson for Vedanta and senior officials in the Gujarat government have declined to comment. An announcement is expected within a week after the signing of MoUs between both sides as per the report.

A mega project planned by Vedanta-Foxconn has been awarded to Gujarat, beating out Maharashtra, Telangana, and Karnataka.

DeshGujarat