The joint venture has not yet finalised a location so far as they have started evaluating various sites
Vedanta and Foxconn have hired experts to evaluate the possible location for their next semiconductor plant in Gujarat. They may finalize a site in the next couple of weeks, the secretary of Gujarat Science and Technology Department Vijay Nehra said.
He also added that the joint venture company has not yet finalised the site as they are evaluating various locations in Gujarat considering technical aspects, commercial viability and connectivity to set up the semiconductor and a display fabrication unit in the state.
Vedanta Group and Foxconn as a joint venture had signed a Memorandum of Understanding (MoU) with the Government of Gujarat to invest Rs 1,54,000 crore to set up a plant in the state. It is the biggest ever corporate investment in the history of independent India happened on September 14, the MoU was signed by Nehra on behalf of the state government.
The project is going to have huge subsidies and incentives including zero stamp duty on land purchase and subsidised water and electricity under the “Gujarat Semiconductor Policy 2022-27”, which was announced this year in July by the state government.
Along with the policy, the Gujarat Government had also announced setting up ‘Dholera Semicon City’ in the Dholera Special Investment Region (SIR) near Ahmedabad to attract investors.
Vijay Nehra added that when the Central government had announced the “India Semiconductor Mission” in December 2021, Vedanta and Foxconn had started looking for sites across different states in India and then selected Gujarat for the plant. Now they’ve hired sector experts to further evaluate the possible sites and finalise one for the upcoming plant in the state.
The promoters are now evaluating sites in Gujarat on various technical aspects which include the effect of the vibrations of passing trains that can affect the production process. There must not be any such vibrations near the plant site, Nehra explained.
Also read: Vedanta, Foxconn JV to Manufacture Semiconductors in India
