As the Anil Agarwal-led company waits for a clearance from the Indian government on its ambitious semiconductor project, Foxconn has pulled the plug on their $19.5 billion joint venture
It was meant to be the stuff of dreams. Now it seems to have gone sour.
On its part, Vedanta seems unfazed by the development, and is in turn scouting for more partners. "Vedanta reiterates that it is fully committed to its semiconductor fab project and we have lined up other partners to set up India’s first foundry. We will continue to grow our Semiconductor team, and we have the license for production-grade technology for 40 nm from a prominent Integrated Device Manufacturer (IDM). We will shortly acquire a license for production-grade 28 nm as well. Vedanta has redoubled its efforts to fulfill the Prime Minister's vision for semiconductors and India remains pivotal in repositioning global semiconductor supply chains," a spokesperson from Vedanta said.