“Semi-conductor is a long-term business. We are looking at about $10 billion on display. Right now we are looking at $7 billion in semiconductors that may also go up by another $3 billion to further extend it. First 10 year we have engaged to invest up to $15 billion. We will evaluate further investment at a later stage,” Avanstrate MD Akarsh Hebbar said.
Vedanta has earmarked $15 billion for foray into the electronic chip and display manufacturing space, and plans scale up the investment to as much as $20 billion, a senior company official said.
Vedanta’s group firm Avanstrate, which will spearhead the semiconductor business, expects to roll out electronic chips and displays from Indian manufacturing plants by 2025, the official of the group’s semi-conductor arm said.
“Semi-conductor is a long-term business. We are looking at about $10 billion on display. Right now we are looking at $7 billion in semiconductors that may also go up by another $3 billion to further extend it. First 10 year we have engaged to invest up to $15 billion. We will evaluate further investment at a later stage,” Avanstrate MD Akarsh Hebbar said.
Avanstrate has applied for setting up a semiconductor plant and a display manufacturing unit.
Vedanta has signed a MoU with electronics manufacturing services giant Foxconn to form a joint venture to make chips in India. It is the first to make the announcement to invest in semi-conductors manufacturing after the Centre announced a $10 bn (Rs 76,000 cr) program to boost electronic chip and display ecosystem in the country.
