Core Tip: Hon Hai Group and Vedanta, a large Indian multinational group, have a well-established cooperation layout in semiconductors. It is said that the site selection has been completed. The plant in question is located in Gujarat, the hometown of Indian Prime Minister Narendra Modi. The MOU (Memorandum of Cooperation) will be signed this week.
The cooperation between Hon Hai Group and Vedanta, a large Indian multinational group, in semiconductors is well-established. It is said that the site selection has been completed. The plant in question is located in Gujarat, the hometown of Indian Prime Minister Narendra Modi, and the earliest this week A MOU (Memorandum of Cooperation) will be signed.
It is reported that in order to facilitate this investment plan, Vedanta sent staff to visit Pune in the western Maharashtra province of India, surveyed a piece of land covering 160 hectares, and set the site as a site Factory preferred. In addition, Vedanta also included the neighboring state of Gujarat (Gujarat) and the southern Indian province of Karnataka (Karnataka), but did not expect that in the end, Gujarat won the supporting role.
According to foreign reports, Gujarat successfully won the investment case because the local government provided financial and non-financial subsidies, including subsidies for capital expenditures and cheap electricity. Of course, Vedanta must be contracted in Ahmedabad, the largest city in western India ( Ahmedabad) to build a panel and semiconductor factory.
Although the Indian official did not say what incentives were provided, according to foreign sources a few days ago, Vedanta had hoped that the Indian government could provide 1,000 acres (405 hectares) of land with 99 years of rent-free and 20 years of fixed-rate hydropower concessions during lobbying. .
Although the Indian government, Vedanta, and Hon Hai are reluctant to confirm the news, according to sources, the two sides will formally sign the MOU (Memorandum of Cooperation) this week, and local officials and Vedanta executives will all attend.
The Indian government actively promotes local production, and is particularly optimistic about the prospects of semiconductors. According to the Indian government's estimation, by 2026, India's semiconductor market will increase from $15 billion in 2020 to $63 billion.
Also because of this business opportunity, Vedanta, an oil and metal enterprise group, decided in February this year to join hands with Hon Hai Group to set up a joint venture company to jointly enter the field of chip manufacturing. The investment amount officially announced by the sea is only 118.7 million US dollars.
