Hon Hai Group has discussed the stage of incentive measures with several Indian state governments. Hon Hai announced in mid-February this year that it will join hands with India's Vedanta Group to set up a joint venture, planning to invest and manufacture semiconductors locally; Hon Hai holds a 40% stake in the joint venture through its subsidiary Big Innovation Holdings Limited.
Earlier, Nikkei Asia reported that the two companies had agreed to form a joint venture for the project, in which Hon Hai would invest $118.7 million and hold a 40 percent stake. Anil Agarwal, chairman of Vedanta, will serve as chairman of the joint venture. The joint venture aims to meet the huge demand in the local electronics industry.
At present, the joint venture between Hon Hai and Vedanta has entered the stage of site selection, but before deciding on the location of the factory, it is discussing and evaluating incentive policies and subsidy content with various governments; and according to the plan, the joint venture will produce 28-65nm process. It produces chips, but Hon Hai said it would not comment on foreign media reports.
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