Indian A joint venture between conglomerate Vedanta and electronics giant Foxconn will set up a semiconductor and display manufacturing unit in the Dholera Special Investment Region (SIR) near Ahmedabad in Gujarat. A senior state official gave this information on Monday. The Vedanta and Foxconn joint venture had last year signed a memorandum of understanding (MoU) worth Rs 1,54,000 crore with the state government to set up the plant in Gujarat. It is believed to be the largest corporate investment from independent India. This will be the first semiconductor manufacturing unit in India.
The joint venture had not previously disclosed the location of the plant. The MoU was signed in Gandhinagar in September last year in the presence of the Minister for Railways, Communications, Electronics and Information Technology, Ashwini Vaishnav. On this occasion, Chief Minister Bhupendra Patel had said that this plant would create one lakh jobs in the state.
He had also said that his government would extend all assistance to establish and make this plant a success. It should be noted that Prime Minister Narendra Modi, while addressing a public meeting in Bhavnagar in November ahead of the assembly elections in the state, indicated that the semiconductor plant would be set up at Dholera SIR.
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