Vedanta plans to set up a $20-billion chip industry

Vedanta, an Indian multinational mining industry has recently declared its plan to set up its semiconductor manufacturing unit in the state of Gujarat. It has further mentioned it has identified its land for it. According to Reuters, later this week a formal signing of a memorandum of understanding (MoU) between the state government and Vedanta will be later announced to its effect.

“Various state governments have approached us for providing land for the project, and we are also in talks with sev- eral of them. We will soon identify the location to set up the unit. We want to see which state is able to create an entire cluster of units.”

Anil Agarwal, Vedanta chairman, had said earlier when he shared his plan for the future of the 2 billion dollar’s initial investment company. He shared his view for the expectation of the company to grow as a nationwide project of $20 billion.

Vedanta is confident about its upcoming project of establishing a global trade once it reaches its full potential in India. It has already mentioned its fab glasses and optic fibre manufacturing companies in Japan, South Korea, and Taiwan. Agarwal further stated its business and marketing in those nations, which include 20,000 people working internationally.

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