Vedanta Group exploring to partner with Japanese tech companies for chip fab in Gujarat
By MYBRANDBOOK
As it continues with its plan to set up a semiconductor fab in Gujarat, Vedanta Group said that it is exploring collaborations with Japanese technology companies. In 2022, Vedanta signed pacts with 30 Japanese technology companies to foster the development of India's semiconductor and glass display manufacturing ecosystem. With around 100 semiconductor manufacturing plants, Japan is currently among the top five countries to have a semiconductor ecosystem.
During Vibrant Gujarat Global Summit roadshow in Japan, Akarsh K. Hebbar, Vedanta's semiconductor and display business global managing director, said that it is a $80 billion opportunity for companies willing to come and invest in the electronics manufacturing hub in Gujarat.
“There is a USD 80-billion opportunity for companies willing to come and invest in this electronics manufacturing hub, and Vedanta will be the anchor for Japanese companies interested in investing in India," Hebbar said.
Vedanta said in a statement, “He (Hebbar) outlined Vedanta's ambitious plans to establish semiconductor and display fabs in Dholera SIR, Gujarat, and invited Japanese companies to partner with Vedanta in helping build the country's first electronics manufacturing hub in the state."
The electronics manufacturing hub has the potential to attract hundreds of SMEs and create more than one lakh jobs, added Hebbar.
Vedanta group firm AvanStrate Inc is headquartered in Japan.
Earlier, Vedanta had formed a joint venture with Taiwanese electronics manufacturing giant Foxconn which announced plans to invest $19.5 billion in setting up a semiconductor wafer fabrication plant.
On October 12, as part of its demerger drive, Vedanta Ltd had said that it has incorporated a wholly-owned arm, ‘Vedanta Iron and Steel Ltd’. The wholly-owned arm incorporated has an authorised capital of one lakh equity shares of ₹1 each.
The move is in line with the company's plan, announced on September 29, to demerge its business.
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