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Vedanta group chairman Anil Agarwal on Friday said that first phase of its semiconductor project will involve USD 5 billion investment of the overall USD 20-billion outlay, and the venture will be ready with made-in-India chip in two and a half years. Vedanta is talking to three companies to rope them in as technology partners for its mega plans entailing foundary, chip manufacturing, and packaging and design. "In 2.5 years, we will give you Vedanta made-in-India chips," Agarwal told reporters on the sidelines of SemiconIndia 2023 event. The first phase of its semiconductor investment will be to the tune of USD 5 billion, which is being structured. "Vendata has a good cash flow, we will make a capital allocation in Vedanta and there is queue of people to give us equity and debt...but we want the tie-ups to be in place first, and have ecosystem," he said. After parting ways with Foxconn on their semiconductor joint venture, Vedanta group has made it clear that it remains committed
Vedanta chairman Anil Agarwal on Tuesday said that the company in partnership with Foxconn will set up a semiconductor manufacturing plant in the next two years. The Indian conglomerate had already entered into a pact with electronics manufacturing giant Foxconn to form a joint venture (JV) for manufacturing semiconductors in India. Agarwal termed the signing up of the pact with Foxconn as a "very big job", and said that the semiconductor industry will promote other sectors like automobiles and electronics in the country. Vedanta had unveiled its plan to invest in semiconductor manufacturing after the government announced a Rs 76,000-crore package to boost electronic chip and display ecosystem in the country. This is also the second attempt of Vedanta to enter the semiconductor space after its earlier plan to set up a display unit with about Rs 60,000 crore investment could not take off. Agarwal was speaking at the 7th National Leadership Conclave. According to the memorandum of