Vedanta chairman Anil Agarwal on Friday said that the company is in talks with three firms for separate tie-ups for foundry, chip and packaging and testing for its semiconductor unit in India, according to a report by Livemint.
Vedanta’s chairman was further quoted as saying by Livemint that the tie-ups should happen within the next few months. He further revealed that the company aims to produce the first chips from its facility within the next two-and-a-half years, further mentioning that Vedanta’s partnership with Foxconn can happen on the ecosystem side.
Vedanta was earlier in talks with Taiwan’s Foxconn to create a semiconductor joint venture for Indian markets, however, both the companies withdrew from the deal valued at $19.5 billion shattering the company's chipmaking plans.
A Foxconn spokesperson was quoted as saying that the companies “mutually agreed to part ways", adding that the project “was not moving fast enough", and that “there were challenging gaps (the project was) not able to smoothly overcome, as well as external issues unrelated to the project."
While speaking at the Semicon India conference earlier today, Agarwal said that Vedanta had found a ‘world class partner’ for its semiconductor and display fabrication project in India and that the company is “in the process of tying up with them."
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Another senior industry leader was quoted as saying that the company might make an official announcement by the end of this year, subject to approvals. While its commencements would still be a few years away.
Vedanta’s announcement came amid Mark Papermaster, executive vice-president and chief technology officer (CTO), on Friday announcing a $400 million investment to set-up its largest engineering, research and development facility globally.
So far, India has seen Micron announce its chip testing, assembly and packaging facility in Sanand, Gujarat—in a venture that would be cumulatively worth $2.75 billion including government investments.