Vedanta, Foxconn sign MoU with Gujarat govt to set up semiconductor unit

Indian conglomerate Vedanta and electronics manufacturing giant Foxconn signed a Memorandum of Understanding with the Gujarat government on Tuesday to set up a semiconductor and display FAB manufacturing unit in the state.

The MoU was signed in the presence of Minister for Railways, Communications, Electronics & Information Technology, Ashwini Vaishnaw, at a function held in Gandhinagar.

Both the companies would invest Rs 1,54,000 crore to set up the facility in Gujarat, which would create one lakh job opportunities, Gujarat Chief Minister Bhupendra Patel said on the occasion.

Patel also said his government will provide cooperation to set up the facility and to make it a success.

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