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Vedanta seeks land for foray into semiconductor manufacturing

Friday, 29 Apr 2022
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Vedanta is seeking 1,000 acre (405 ha) of free land parcel from states and other incentives for its USD 20 billion foray into semiconductor and display manufacturing. 
The company will diversify its business into chip manufacturing. It has announced plans to form a joint venture (JV) with Foxconn. 
Though the company is seeking federal incentives under a PM programme offering fiscal support, it is separately seeking from states for 1,000 acre of land free of cost on a lease for 99 years. 
The operations will help them generate USD 2.2 billion in tax revenues over 20 years and create up to 1,00,000 direct and indirect jobs. 
The company is in advanced stages of reviewing proposals from states – Telangana, Karnataka and Maharashtra.
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