The Vedanta-Foxconn joint venture (JV) said that it has resubmitted an application to establish a manufacturing facility for electronic chips in India.
“We have submitted the application as per the revised guidelines. We are committed to building a world-class fab in India,” Vedanta Foxconn Semiconductor said in a statement.
Its earlier application could not qualify for receiving financial incentives after it failed to get a partner with technical expertise in producing advanced semiconductor chips.
In the new application for making chips under the government’s $10 billion production-linked incentive (PLI) scheme, the company has sought government incentive in the 40-nanometer (nm) chip category, instead of 28-nm proposed earlier.
The announcement comes a day after a media report stated that Foxconn was searching for a new partner, stepping back from the year old JV with the Anil Agarwal-led Vedanta group.
