The Maharashtra leadership has made a huge effort to outbid other States with a competitive offer, but the decision to choose Gujarat for the deal was on the basis of professional and independent advice, Vedanta Resources Limited Chairman Anil Agarwal said following the Vedanta-Foxconn’s decision to set up their $20 billion semiconductor unit in Gujarat instead of Maharashtra.
He said that they had decided on Gujarat a few months ago as the State Government met their expectations. “But in the July meeting with the Maharashtra leadership, they made a huge effort to outbid other States with a competitive offer. We have to start in one place, and based on professional and independent advice we chose Gujarat,” Mr. Agarwal said.
The 68-year-old billionaire industrialist took to Twitter and said that Vedanta-Foxconn had been professionally assessing the site for a multibillion-dollar investment. “This is a scientific and financial process which takes several years. We started this about 2 years ago.
