Vedanta and Foxconn have chosen Gujarat’s Dholera Special Investment Region as the location for their semiconductor and display manufacturing plant. An official from the state government confirmed this. In the largest corporate investment in independent India’s history, Vedanta and Foxconn signed a Memorandum of Understanding (MoU) with the Gujarat government in September last year to invest Rs 1,54,000 crore in the state’s plant. This is India’s first semiconductor manufacturing facility. The joint venture company had not revealed the exact location of the facility at the time.
‘The joint venture entity of Vedanta and Foxconn has selected Dholera SIR for the establishment of their semiconductor and display manufacturing facility after conducting a thorough site analysis in consultation with Gujarat government officials. The project is currently being evaluated by the Indian government,’ an official said. Reed will be in charge of establishing a semiconductor fab unit as well as a semiconductor assembling and testing unit in India, according to the company. Both companies would invest Rs 1,54,000 crore to build the facility in Gujarat, creating one lakh jobs, Gujarat Chief Minister Bhupendra Patel said on the occasion. Patel also stated that his government will work with the facility to ensure its success.
According to a government official, Gujarat is the first state in the country to have such a dedicated policy for the semiconductor and display fabrication sector.
Under this policy, eligible projects will receive a 75% subsidy on the first 200 acres of land purchased for the establishment of manufacturing units. For the first five years, eligible projects will receive high-quality water at a cost of Rs 12 per cubic metre.
To encourage investors under the policy, the state government has also announced that it will reimburse 100% of the stamp duty that investors will pay for the first time when leasing, selling, or transferring land.