Today, Foxconn and Vedanta Resources signed a memorandum of understanding (MoU) with the Indian state of Gujarat to build semiconductor and display manufacturing facilities. The deal is worth INR 1.54 lakh crore ($ 19.5 billion) and is considered the largest investment project in any Indian state to date.
Event of the signing ceremony of the MoU of the Vedanta-Foxconn group
It is estimated that it will create over 100,000 jobs near the city of Ahmedabad within two years. The move should provide India with “seamless access” to the chipset and display components. Vedanta Resources – the largest mining company in India is taking care of the site configuration of the display and chipset manufacturing facilities while Foxconn will act as technical partner.
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