Anil Aggarwal-led Vedanta on Monday appointed industry veteran David Reed as head of its semiconductor unit, where he will oversee a $20 billion (about Rs 1,65,600 crore) deal to manufacture chips needed for mobile phones to laptops and TV sets. Wants to invest Rs.
In an interview with PTI, Aggarwal said the group wants to start semiconductor manufacturing in Dholera, Gujarat in 2-3 years.
“We will start with an investment of $5 billion (about Rs 41,400 crore) and increase it as the year goes on,” he said.
The semiconductor will be manufactured in a joint venture with Taiwanese electronics company Foxconn. Vedanta holds 63 per cent stake and the rest is with Foxconn in the joint venture.
The company plans to initially produce 40,000 wafers per month.
Before joining Vedanta, Reed was with NXP Semiconductors, where he was executive vice president and general manager of global operations.
He moved to NXP as part of its merger with Freescale Semiconductor, where he served as senior vice president for manufacturing operations. Previously, David was Vice President and General Manager at GlobalFoundries.
He began his career at Texas Instruments in 1984, where he worked for 26 years in various leadership roles around the world.
In September 2022, Vedanta signed an MoU with the Government of Gujarat to set up India’s first semiconductor fab unit, a display fab unit and a semiconductor assembling and testing unit in the state.
Vedanta Group has earlier announced that the group has earmarked investments of up to $20 billion for the semiconductor business, and it plans to invest $15 billion (approximately Rs 1,24,200 crore) in the first 10 years.
Vedanta will consider manufacturing 28 nanometer (nm) chipsets.
It has also applied to set up a display fabrication plant to make screens used for displays in electronic devices.
