Vedanta, a joint venture of Foxconn wafer factory, seeks more incentive policies in India
Time:2022-05-02
Views:2099
On April 28, Foxconn and its Indian partner Vedanta jointly invested in the wafer manufacturing plant project. At present, Foxconn is negotiating preferential terms with local governments in the country.
According to two people familiar with the matter, Vedanta proposed to rent 1000 acres of land free of charge for 99 years, of which 700 acres were used for the construction of the main facilities of the wafer factory. In addition, Vedanta also asked for preferential prices for the supporting water and electricity supply of the wafer factory.
The company said that after the location of the plant is determined, it will bring us $2.2 billion in local tax revenue and create 100000 direct and indirect jobs within 20 years. It is said that Vedanta is currently conducting substantive negotiations with at least three local states.
According to two people familiar with the matter, Vedanta proposed to rent 1000 acres of land free of charge for 99 years, of which 700 acres were used for the construction of the main facilities of the wafer factory. In addition, Vedanta also asked for preferential prices for the supporting water and electricity supply of the wafer factory.
The company said that after the location of the plant is determined, it will bring us $2.2 billion in local tax revenue and create 100000 direct and indirect jobs within 20 years. It is said that Vedanta is currently conducting substantive negotiations with at least three local states.
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