Vedanta to set up semiconductor plants in Gujarat, plans to spend $20 billion

  • Vedanta has selected Indian PM Narendra Modi’s home state of Gujarat for its semiconductor project, two sources told Reuters, the first major step in its $20 billion joint venture with Taiwan’s Foxconn.
  • Vedanta obtained financial and non-financial subsidies including on capital expenditure and cheap electricity from Gujarat to build the semiconductor plants.

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