The Maharashtra Cabinet is about to approve a proposal on Wednesday in which land shall be allotted to a Vedanta- Foxconn project to establish a semiconductor and display fabs manufacturing facility in the state.
Press note issued by the Maharashtra Industrial Development Corporation (MIDC) said that Vedanata and the government are in discussion over the proposed manufacturing facility for semiconductors and display fabs. It also said Talegaon in Pune has emerged as a great option for Vedanta and Foxconn for their USD 22 billion investment as Pune has adept manpower, connectivity to the port, smooth and impeccable domestic-supply chain and well-developed industrial infrastructure. The venture is said to generate more than 2,00,000 direct and indirect jobs. Anil Agarwal-led Vedanta Group’s team was headed by Akarsh K Hebbar, global MD of Vedanta’s display and semi-conductor business arm Avanstrate.