India's Vedanta to take over Foxconn chip JV from holding co

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India's Vedanta to take over Foxconn chip JV from holding co
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BENGALURU : India's metals-to-oil conglomerate Vedanta Ltd said on Friday that it would take over from its holding company the ownership of a joint venture with Taiwan's Foxconn that was set up to make semiconductors.Vedanta also said it would also take over a display glass manufacturing venture from Volc

BENGALURU : India's metals-to-oil conglomerate Vedanta Ltd said on Friday that it would take over from its holding company the ownership of a joint venture with Taiwan's Foxconn that was set up to make semiconductors.

Volcan and Foxconn signed a pact last year to invest $19.5 billion to set up semiconductor and display production plants in the state of Gujarat in west India to tap into the country's plans to become an electronics major.

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