Diversified business conglomerate Vedanta could set up its proposed semiconductor plant in India in the next two years.
The company in February announced its partnership with global electronics manufacturing firm Hon Hai Technology group (Foxconn) to manufacture semiconductors in India. As part of the memorandum of understanding, a joint venture will be formed between the two companies where Vedanta will provide the majority of the equity.
Vedanta chairman Anil Agarwal, who will also be the chairman of the joint venture company, on Monday told CNBC-TV 18 that the initial estimate in the projects will be around $2 billion.
