Agarwal's $19-bn chip plant dream at risk
Financial Express Mumbai|April 07, 2023
VEDANTA-FOXCONN STRUGGLING TO SECURE TECH PARTNER
SANKALP PHARTIYAL & SUDHI RANJAN SEN
Agarwal's $19-bn chip plant dream at risk

VEDANTA RESOURCES' CHAIRMAN Anil Agarwal's plan to build a $19-billion chipmaking plant in India is floundering as his venture struggles to secure a technology partner and faces challenges in obtaining financial incentives from the government.

Seven months after Agarwal announced a chip partnership with Taiwan's Hon Hai Precision Industry, the venture is yet to tie up with a fabrication unit operator or licence manufacturing-grade technology, people familiar with the matter said. One of those is required for the venture to receive the significant financial incentives the government has pledged for such projects.

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