Kamothe
Buisness

Report: Vedanta Will Partner With Three Companies For Its Semiconductor Business in India

<p>According to a Livemint article, Vedanta Chairman Anil Agarwal said on Friday that the business is in negotiations with three companies for separate tie-ups for foundry, chip, packaging, and testing for its semiconductor operation in India.<img decoding=”async” class=”alignnone wp-image-102955″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/07/theindiaprint.com-report-vedanta-will-partner-with-three-companies-for-its-semiconductor-business-in-india-download-2023-07-30t182015.675.jpg” alt=”” width=”1418″ height=”794″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/07/theindiaprint.com-report-vedanta-will-partner-with-three-companies-for-its-semiconductor-business-in-india-download-2023-07-30t182015.675.jpg 300w, https://www.theindiaprint.com/wp-content/uploads/2023/07/theindiaprint.com-report-vedanta-will-partner-with-three-companies-for-its-semiconductor-business-in-india-download-2023-07-30t182015.675-150×84.jpg 150w” sizes=”(max-width: 1418px) 100vw, 1418px” /></p>
<p>According to further quotes from Vedanta’s chairman provided to Livemint, the tie-ups should take place soon. He also said that Vedanta’s relationship with Foxconn may happen on the ecosystem side and that the business plans to start producing the first chips from its plant within the next 2.5 years.</p>
<p>Vedanta and Foxconn had been in discussions to form a joint venture to manufacture semiconductors for the Indian market. However, both businesses pulled out of the $19.5 billion transaction, which destroyed the company’s intentions to manufacture chips.</p>
<p>According to a Foxconn spokeswoman, the firms “mutually agreed to part ways” since the project “was not moving fast enough,” there were difficult gaps that it was unable to resolve without assistance, and there were other external problems as well.</p>
<p>Agarwal said that Vedanta has secured a “world class partner” for its semiconductor and display fabrication project in India and that the business is “in the process of tying up with them” earlier today while addressing at the Semicon India conference.</p>
<p>According to a senior industry figure who was also mentioned, pending permissions, the business may make an official announcement by the end of this year. Although its beginnings would be a few years off.</p>
<p>Vedanta’s news came as its chief technology officer (CTO), Mark Papermaster, said on Friday that it will spend $400 million to build its biggest engineering, research, and development center ever.</p>
<p>Micron has so far announced plans to build a chip testing, assembly, and packaging plant in Sanand, Gujarat. The project is expected to cost a total of $2.75 billion when government contributions are taken into account.</p>
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