A team from Indian conglomerate Vedanta visited Pune on Friday to assess the feasibility of establishing an electronic chip plant in the district, according to a government official. Under the government’s incentive scheme, Vedanta Group companies have applied to set up semiconductor and display manufacturing units in the country.
By 2024, it expects to have display units for mobile phones and electronics devices on the market, as well as electronic chips made in India by 2025. Several automobile companies have manufacturing plants in Pune. Vedanta intends to start with 28 nanometer electronic chips that can be used in mobile phones, power systems, and automobiles.
”A team from Vedanta visited Pune on Thursday. They were just assessing the place and the ecosystem for their proposed semiconductor unit,” an official from the Maharashtra Industrial Development Corporation (MIDC) said. An e-mail sent to Vedanta on the matter did not elicit any reply. Vedanta has earmarked $15 billion for foray into the electronic chip and display manufacturing space, and plans to scale up the investment to as much as $20 billion (about Rs 1.5 lakh crore).
Vedanta proposed a $10 billion LCD screen plant in Maharashtra in 2016, but it was unable to get off the ground due to a lack of technology partnerships. Later, the Anil Agarwal-led group bought Avanstrate, a display manufacturing company that solves Vedanta’s technology problem.
