Vedanta will raise $ 300 million through debt, plans to set up semiconductor and display plants in India

Vedanta to raise $300 million through debt

The government has received proposals from five companies for making electronic chips, on which investment of Rs 1.53 lakh crore is possible. These include Vedanta Foxconn, IGSS Ventures, ISMC. It is expected that in the next four years, an investment of about Rs 1.7 lakh crore will come from semiconductor manufacturing in the country.

Vedanta ,Vedant) Semiconductor in the country (semiconductor) and banks to raise $ 300 million to set up the display plant (bank loan) talking to. Reuters has given this news quoting a senior company official. According to the official, the company is already in talks with banks in India to raise a loan of $ 250 to 300 million. Along with this, the company is also talking to many states of the country so that they can get better offers for the plant. The company had signed an agreement with Foxconn in February this year to set up a joint venture to manufacture semiconductors in India. At the same time, recently Vedanta Chairman Anil Agarwal had said that he can start manufacturing semiconductors in India in the coming 2 years. He also said that in the coming times, the semi conductor will act as a facilitator for any industry.

Efforts to set up chip plants in the country intensified

Vedanta plans to invest a total of $ 20 billion to set up chip and display plants in the country. Vedanta is currently in talks with both the central and state governments so that it can get more relaxation. The company is looking for about 1000 acres of land and for this it is going on with the state governments. It is likely that the company will complete the search for the place by the middle of May. According to the report, the company’s talks with the Gujarat and Maharashtra governments have reached the next round. Along with this, talks are also going on with Telangana. The company has also contacted the governments of Odisha and Karnataka and is awaiting their response. The company has given an estimate that 10 to 15 percent return can be given on this investment for the next 15 to 20 years and the company can get back its entire investment in 7 to 10 years. According to an estimate, India’s semiconductor market can reach $ 63 billion by 2026. Which was $ 15 billion in 2020.

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Domestic manufacturing of semiconductors to be allowed in next 6 months

On the other hand, Union Minister Ashwini Vaishnav said on Friday that electronic chip makers are expected to be approved in the next six-eight months as part of the initiative to promote semiconductor manufacturing at the domestic level. Addressing the ‘Semicon India-2022’ conference organized here, Electronics and Information Technology Minister Vaishnav said that the government can approve domestic manufacturing of semiconductors in the next six-eight months. He said that setting up the infrastructure of the semiconductor industry is not a hurried race and the government is engaged in this effort. “We have already reached $76 billion in electronics manufacturing and are on our way to reach $300 billion,” he said. With smartphone usage growing and the 5G industry growing, we see very high growth for semiconductors in the coming years. He said that among the incentives being given to the semiconductor industry in many countries, India has also offered good incentives. “The difference is that we are committed to producing 85,000 semiconductor professionals over the next 10 years,” he said. We have also tied up with global institutions. The government has received proposals from five companies for making electronic chips, on which an investment of Rs 1.53 lakh crore is likely. These include Vedanta Foxconn, IGSS Ventures, ISMC. The government expects that in the next four years, semiconductor manufacturing will bring investment of about Rs 1.7 lakh crore in the country and provide employment to 1.35 lakh people.