Substantial progress on technology tie-up, says Akarsh K Hebbar of Vedanta Semiconductors
Says Vedanta Group remains fully committed to building India’s first semiconductor and display fabs unit in Dholera Special Investment Region
- Jul 18, 2023,
- Updated Jul 18, 2023 8:00 PM IST
A week after Foxconn cleared its intention about splitting its semiconductor joint venture with Vedanta, Anil Agarwal-led oil-to-gas conglomerate said it is committed to building India’s first semiconductor and display fabrication plant. In this regard, Vedanta claims to have made significant progress in closing tie-ups for technology as well as equity partners for semiconductors. While the company did not disclose any details, it is expected to make an announcement soon.
Vedanta had led the JV with Foxconn and had a 67 per cent share. It was responsible for building the fab, while Foxconn, with a 33 per cent share, was responsible for onboarding the technology partner, David Reed, CEO of erstwhile Vedanta Foxconn Semiconductors, had earlier told Business Today. Reed was very excited about the technology partner that the JV had onboarded, but had refrained from disclosing the name due to an NDA. Putting an end to the ambiguity (indirectly) about the technology partner with Foxconn’s exit, Akarsh K Hebbar, Global MD, Vedanta Semiconductors and Display, indicated that the company isn’t struggling with technology or equity partners anymore. Last week, the leadership team of Vedanta Semiconductors and Display, attended SEMI global event – SEMICON WEST in San Francisco between July 11 and 13.
“Vedanta Group remains fully committed to building India’s first semiconductor and display fabs in Dholera Special Investment Region in Ahmedabad district, Gujarat. Substantial progress has happened to tie up technology and equity partners in semiconductors and we will make an announcement soon,” said Hebbar in a press statement.
Hebbar claims the company has engaged with more than 100 global suppliers and ancillary industries who will form a key part of the semiconductor and display ecosystem. “The Government of Gujarat has allotted us the land in Dholera, and work is already underway to prepare it for construction of the fabs,” he added. The company hopes to achieve key milestones in progress.
Earlier, Business Today had reported that Vedanta Foxconn Semiconductors had resubmitted the application in 40 nm technology node, which is under evaluation. The company was acquiring/onboarding technology for 28nm node when the news about the splitting of the joint venture broke out.
Other than a semiconductor fab, Vedanta is keen to set up a display fab as well. For the same, the company has already partnered with Taiwan-based Innolux. “In display fab, we already have a partnership with Innolux and are ready to proceed with speed with full support of our partner,” added Hebbar.
Vedanta is currently waiting for the Government of India’s nod for its applications under the modified scheme for semiconductor and display fabs. As soon as the applications are approved, Vedanta intends to begin construction immediately. The company aims to make India Atmanirbhar in electronics in line with the vision of Prime Minister Narendra Modi.
A week after Foxconn cleared its intention about splitting its semiconductor joint venture with Vedanta, Anil Agarwal-led oil-to-gas conglomerate said it is committed to building India’s first semiconductor and display fabrication plant. In this regard, Vedanta claims to have made significant progress in closing tie-ups for technology as well as equity partners for semiconductors. While the company did not disclose any details, it is expected to make an announcement soon.
Vedanta had led the JV with Foxconn and had a 67 per cent share. It was responsible for building the fab, while Foxconn, with a 33 per cent share, was responsible for onboarding the technology partner, David Reed, CEO of erstwhile Vedanta Foxconn Semiconductors, had earlier told Business Today. Reed was very excited about the technology partner that the JV had onboarded, but had refrained from disclosing the name due to an NDA. Putting an end to the ambiguity (indirectly) about the technology partner with Foxconn’s exit, Akarsh K Hebbar, Global MD, Vedanta Semiconductors and Display, indicated that the company isn’t struggling with technology or equity partners anymore. Last week, the leadership team of Vedanta Semiconductors and Display, attended SEMI global event – SEMICON WEST in San Francisco between July 11 and 13.
“Vedanta Group remains fully committed to building India’s first semiconductor and display fabs in Dholera Special Investment Region in Ahmedabad district, Gujarat. Substantial progress has happened to tie up technology and equity partners in semiconductors and we will make an announcement soon,” said Hebbar in a press statement.
Hebbar claims the company has engaged with more than 100 global suppliers and ancillary industries who will form a key part of the semiconductor and display ecosystem. “The Government of Gujarat has allotted us the land in Dholera, and work is already underway to prepare it for construction of the fabs,” he added. The company hopes to achieve key milestones in progress.
Earlier, Business Today had reported that Vedanta Foxconn Semiconductors had resubmitted the application in 40 nm technology node, which is under evaluation. The company was acquiring/onboarding technology for 28nm node when the news about the splitting of the joint venture broke out.
Other than a semiconductor fab, Vedanta is keen to set up a display fab as well. For the same, the company has already partnered with Taiwan-based Innolux. “In display fab, we already have a partnership with Innolux and are ready to proceed with speed with full support of our partner,” added Hebbar.
Vedanta is currently waiting for the Government of India’s nod for its applications under the modified scheme for semiconductor and display fabs. As soon as the applications are approved, Vedanta intends to begin construction immediately. The company aims to make India Atmanirbhar in electronics in line with the vision of Prime Minister Narendra Modi.