Hon Hai, Vedanta to invest US$19.5bn in Gujarat‘USHER IN A NEW ERA’: The venture aims to start manufacturing display and chip products within two years, and would create 100,000 new jobs in the Indian state Hon Hai Precision Industry Co (鴻海精密) and Vedanta Ltd are to invest US$19.5 billion under pacts signed yesterday to set up semiconductor and display production plants in Gujarat, the home state of Indian Prime Minister Narendra Modi. Reuters was first to report on Monday that the joint venture obtained subsidies, including on capital expenditure and electricity, from Gujarat to set up units near the western state’s largest city, Ahmedabad. The showpiece investment of 1.54 trillion rupees (US$19.5 billion), which Gujarat said was the largest ever by any group in an Indian state, comes ahead of key local elections in the state where

Source: Taipei Times September 17, 2022 03:53 UTC