"Vedanta is fully committed to investing in Maharashtra," chairman Anil Agarwal, tweeted on Wednesday, amid a political brouhaha over Gujarat pipping the state to bag a $20-billion investment.
"Our investments in semiconductor and display glass production will create an ecosystem of industries across the country. We, at Vedanta-Foxconn, have been assessing the sites and engaging in dialogue with state governments for the last two years, and hope to continue these conversations for the growth of our country in years to come," Agarwal added.
On Tuesday, Vedanta announced that the Vedanta-Foxconn semiconductor plant would be set up in Gujarat. It signed two memorandum of understanding (MoUs) with the Gujarat government to set up a semiconductor fab unit, a display fab unit, and a semiconductor assembling and testing unit entailing an investment of Rs 1.54 trillion and employment to around 100,000 people.
"We decided Gujarat few months ago as they met our expectations. But in July meeting with Maharashtra leadership, they made a huge effort to outbid other states with competitive offer. We have to start in one place & based on professional & independent advice we chose Gujarat.
"This multibillion dollar long-term investment will change the course of Indian electronics. We will create a pan-India ecosystem & are fully committed to investing in Maharashtra as well. Maharashtra will be our key to forward integration in our Gujarat JV," Agarwal tweeted.