Vedanta Foxconn JV re-submit application to set up semiconductor plant ...Middle East

Vedanta Foxconn JV has re-submitted an application to set up an electronic chip manufacturing plant, the joint venture company said on Tuesday. The company had earlier announced that the plant will be set up with an investment of around Rs 1.5 lakh crore and start making revenue by 2027. "We have submitted the application as per the revised guidelines. We are committed to building a world-class fab in India," Vedanta Foxconn Semiconductor Ltd said in a statement. The company has re-submitted the application under the modified semiconductor programme. Under the modified programme, the government has increased the fiscal incentive to 50 per cent of the project cost for setting up semiconductor

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