On a 1,000-acre plot of land in Talegaon, close to Pune, Vedanta Group and Foxconn will jointly invest in a semiconductor and display manufacturing facility.
The joint venture would invest 1 lakh crore in display fabrication, 63,000 crore in semiconductors, and 3,800 crore in semiconductor assembly and testing facilities, according to a press statement from the State government.
In order to discuss the project, a group from Vedanta and Foxconn met with the chief minister and deputy chief minister in Mumbai, Eknath Shinde and Devendra Fadnavis.
The State government would completely support and collaborate with the initiative, Shinde reassured the group. According to him, the investment will significantly increase the State’s revenue and create jobs.
