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Vedanta to scale up their investment in semiconductor biz up to 20 bn

BNE ADMIN


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New Delhi: Indian conglomerate Vedanta has earmarked $15 billion for a foray into the electronic chip and display manufacturing space, and plans to scale up the investment to as much as $20 billion.

Vedanta's group firm Avan state, which will spearhead the semiconductor business, expects to roll out electronic chips and displays from Indian manufacturing plants by 2025, the official of the group's semiconductor arm said on Friday.

"Semiconductor is a long-term business. We are looking at about $ 10 billion on display. Right now we are looking at $ 7 billion in semiconductors that may also go up by another $3 billion to further extend it. First 101 years we have engaged to invest up to $ 15 billion. We will evaluate further investment at a later stage," Avanstrate managing director Akarsh Hebbar said.

Source:-PTI

BNE ADMIN