Vedanta Ltd is seeking 1,000 acres (405 hectares) of free land from states as well as other incentives for its $20 billion entrance into semiconductor and display production, according to sources.
In February, the oil-to-metals conglomerate announced ambitions to diversify into chip production and create a joint venture with Foxconn of Taiwan to assist Prime Minister Modi’s plans to turn India into a semiconductor manufacturing centre.
According to two people with firsthand knowledge, Vedanta is requesting states for 1,000 acres of land free of charge on a 99-year lease, despite the fact that it is seeking government incentives under a Modi programme giving fiscal support.
It will require 700 acres for its own facilities and the rest for ancillary purposes.
