Vedanta-Foxconn Selects Dholera SIR For First Semiconductor Facility In India

Vedanta Limited and Foxconn on Monday announced that they are setting up the semiconductor and display manufacturing facility in Dholera SIR, Gujarat. This will be the first manufacturing facility for semiconductors in India.

An official said, “After a detailed site analysis in consultation with Gujarat government authorities, the joint venture entity of Vedanta and Foxconn has selected Dholera SIR for setting up their semiconductor and display manufacturing facility. The project is in the advanced stage of evaluation by the government of India”.

“Gujarat became the first state in the country to have such a dedicated policy for the semiconductor and display fabrication sector”, a government official said.

Talking about the business deals Gujarat Chief Minister Bhupendra Patel said, ” Both the companies would invest Rs 1,54,000 crore to set up the facility in Gujarat, which would create one lakh job opportunities”.

Gujarat Chief Minister further said his government will provide cooperation to set up the facility and to make it a success. This project is likely to get huge subsidies and incentives, like zero stamp duty on land purchase and subsidized water and electricity, under the ‘Gujarat Semiconductor Policy 2022-27’.

The state government has also announced to reimbursement of 100 percent of stamp duty which investors would pay for the first time for taking land on lease, sale, or on land transfer.

The MoU was signed in September last year in Gandhinagar in the presence of the Minister for Railways, Communications, Electronics & Information Technology, Ashwini Vaishnaw. It is the biggest ever corporate investment in the history of independent India.

Also read: Singapore’s PayNow Integrates With Indian UPI