Shulou(Shulou.com)11/24 Report--

CTOnews.com, June 1, according to Bloomberg, the Indian government is prepared to reject Hon Hai and Vedanta's application for a subsidy to build a 28nm semiconductor wafer fab. This also means that there is still no actual recipient of the $10 billion semiconductor subsidy provided by the Indian government (CTOnews.com Note: currently about 71.1 billion yuan).

Reported that Hon Hai has yet to find a technical partner for the production of 28nm chips, nor has it obtained a manufacturing level of technical authorization, at least one of the conditions must be met before the joint venture can obtain government financial assistance. Hon Hai and CEO David Reed, a joint venture with Vedanta, have previously said they have reached an agreement with a technology partner to obtain a license for technology transfer.

The joint venture between Hon Hai and Vedanta had planned to build a plant in Modi's home state of Gujarat, India's first green smart city and a key investment area for India's semiconductor program, providing advanced infrastructure and rapid approval services. It is understood that the factory set up by Hon Hai is the first semiconductor factory in India.

The joint venture between Hon Hai and Vedanta had planned to invest $19.5 billion (currently about 138.645 billion yuan) in India to produce semiconductors, but the project was slow as technology partner STMicroelectronics wanted to limit the scope of technology transfer. CTOnews.com has previously reported that Foxconn's first semiconductor plant in India is still stuck in the approval stage.

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