A joint venture between Indian company Vedanta and Taiwanese electronics company Foxconn to manufacture semiconductors and displays has decided to set up a manufacturing plant at Dholera, near Ahmedabad city of Gujarat. This information was given by a senior government official.
The joint venture between Vedanta and Foxconn is the biggest investment in the corporate history after the independence of the country. Under this, both the companies will jointly set up a semiconductor and display manufacturing plant in Gujarat with an investment of Rs 1,54,000 crore. This will be the country’s first semiconductor plant. This investment agreement between the two companies was signed last year.
One lakh people will get employment
One lakh people are expected to get employment from this semiconductor and display manufacturing plant being set up with an investment of Rs 1.50 lakh crore. Gujarat Chief Minister Bhupendra Patel had said that the Gujarat government will extend full cooperation to make this project a success.
Subsidies and incentives are being offered by the Government of Gujarat to make this project a success, which include zero stamp duty on the purchase of land, subsidy on water and electricity, etc.