Hon Hai and Vedanta to invite STMicroelectronics to join the plan to build a fab in India
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Update time : 2023-02-07 09:41:00
February 5 news, according to Indian media The Economic Times reported that Hon Hai and India's large multinational conglomerate Vedanta plans to invite European chip maker STMicroelectronics to join as a partner in their plans to manufacture semiconductor chips in India, the report said the relevant plans as soon as mid-March out.
In mid-February last year, Hon Hai Group announced that it had signed a memorandum of understanding with Vedanta to jointly fund a joint venture to manufacture semiconductors in India. In September this year, Hon Hai Group and Vedanta signed a Memorandum of Understanding (MOU) for the establishment of a semiconductor and display plant in the Indian province of Gujarat. The size of the related investment will amount to US$20 billion. Of this, Rs 9,450 crore (US$ 11.95 billion) is for a new factory for the production of displays. Another Rs 600 billion (US$ 7.58 billion) will be spent on chip-related production, including the manufacturing, packaging and testing of semiconductors. According to senior executives of the Vedanta Group, the planned 28nm 12-inch fab will be operational by 2025, with initial production of 40,000 wafers per month and full production starting the following year. According to the information, Vedanta is an Indian multinational conglomerate, which started its business in mining and natural resources. The Vedanta Group owns not only telecom engineering companies, but also AvanStrate, a glass substrate manufacturing subsidiary, and Sterlite, a fiber optic cable subsidiary, which has the ability to manufacture electronic components.
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