Vedanta Resources chairman reveals why Gujarat was picked over Maharashtra for semiconductor facility

Mumbai: Vedanta Resources Ltd Chairman Anil Agarwal has revealed why it was decided to set up Vedanta-Foxconn semiconductor facility in Gujarat instead of Maharashtra. He said that Gujarat was finalised for the chip plant on the basis of professional and independent advice.

“We decided Gujarat few months ago as they met our expectations. But in July meeting with Maharashtra leadership, they made a huge effort to outbid other states with competitive offer. We have to start in one place and based on professional and independent advice we chose Gujarat,” Chairman Vedanta Resources said.

Agarwal further said that Vedanta is fully committed to investing in Maharashtra as well. He said, “This multibillion dollar long-term investment will change the course of Indian electronics. We will create a pan-India ecosystem… Maharashtra will be our key to forward integration in our Gujarat JV.”

States which were shortlisted for Vedanta-Foxconn semiconductor plant

Agarwal said that his team of internal and external professional agencies shortlisted few states including Gujarat, Karnataka, Maharashtra, Tamil Nadu “to help achieve our purpose”.

“For the last two years we have been engaging with each of these state governments as well as central government and have received fantastic support,” the Vedanta Resources Limited Chairman said.

On Tuesday, 13 September, Vedanta Limited and Taiwan’s Foxconn signed Memorandums of Understanding (MoUs) with the Gujarat government for setting up a semiconductor and display FAB manufacturing unit in the state with an investment of over Rs 1.54 lakh crore.

On Wednesday, the Maharashtra government, which is under flak for losing out on the mega Vedanta-Foxconn semiconductor project to Gujarat, said Prime minister Narendra Modi has assured the state will get a similar project or even a better one.

Maharashtra Industries Minister Uday Samant alleged the previous Maha Vikas Aghadi (MVA) dispensation was responsible for the loss as it sat on the project offer for seven months whereas the new government approved incentives worth Rs 38,831 crore in July.

Samant said that Maharashtra Chief Minister Eknath Shinde spoke to the Prime Minister on Tuesday after the Vedanta-Foxconn signed an MoU with the Gujarat government to set up a semiconductor and display manufacturing unit in the state.

With inputs from agencies

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