The joint venture (JV) between Vedanta and Foxconn has selected Dholera Special Investment Region (SIR) in Gujarat for setting up the semiconductor and display manufacturing facility. It is the first semiconductor manufacturing facility in India.
In September 2022, the Vedanta-Foxconn JV signed a memorandum of understanding (MoU) with the government of Gujarat to invest Rs 1.54 trillion to set up a semiconductor and display manufacturing plant in the state.
According to Bhupendra Patel, Chief Minister of Gujarat, the facility would create 100,000 job opportunities. He also said that the state government would provide cooperation to set up the facility and to make it a success. The state government has announced to reimburse 100 per cent of stamp duty which investors would pay for the first time for taking land on lease, sale or on land transfer.
As per sources, the project is in the advanced stage of evaluation by the Government of India.