Foxconn and Vedanta to launch $19 billion semiconductor joint venture in India

Foxconn plans to join forces with Indian non-ferrous metals manufacturer Vedanta to launch semiconductor production in India.

Here's What We Know

A new joint factory of the two companies will be built in Gujarat state. The company will invest $20 billion to build the facility, according to Vedanta. The new semiconductor manufacturing facility will create about 100,000 jobs in the country.

Foxconn, the largest contract manufacturer of semiconductor products in the world, will invest only $120 million in the project. The main financing will come from an Indian company, which will take control of a 60% stake.

The new plant will produce a variety of components, including chips and displays, but there is no exact information on the range of products yet. Production will start within two years.

Source: BBC

Image: ComputerBase