Foxconn and Vedanta Resources sign memorandum of understanding (MoU) for semiconductor and display manufacturing plantEarlier today, Foxconn and Vedanta Resources signed a memorandum of understanding (MoU) with the Indian state Gujarat for the construction of semiconductor and display manufacturing plants. The arrangement is worth INR 1.54 lakh crore ($19.5 billion) and is the largest investment initiative in any Indian state to date.
Within two years, it is expected to generate over 100,000 employment in the Ahmedabad area. The move will provide India with "seamless access" to chipset and display components. Vedanta Resources, India's largest mining company, will cover the establishment of the display and chipset manufacturing plant sites, with Foxconn serving as the technical partner.
