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The Latest Breaking News from Vedanta

Foxconn exits $19.4bn chip deal in India

TAIPEI" Taiwanese electronics giant Foxconn withdrew from a $19.4 billion deal with India's Vedanta to make semiconductors in the South Asian nation owing to "challenging gaps", it announced Tuesday.

Bangkok Post

Foxconn to apply for India chipmaking incentives after pullout from Vedanta JV

NEW DELHI: A day after it withdrew from a $19.5 billion semiconductor joint venture with mining baron Anil Agarwal's Vedanta Ltd, Foxconn said it plans to apply for incentives that India is offering under its semiconductor manufacturing policy.

The Times of India

Anil Agarwal’s Vedanta raises about $850 million Via JPMorgan, Oaktree loan

Billionaire Anil Agarwal’s debt-strapped Vedanta Group took out a fresh loan for about $850 million, its latest effort to come up with funds.

The Times of India

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Billionaire Anil Agarwal's chip dream at risk as hurdles mount

NEW DELHI: Billionaire Anil Agarwal's plan to build a $19 billion chipmaking plant in India is floundering as his venture struggles to secure a technology partner and faces challenges in obtaining financial incentives from the government.

The Times of India

Rajasthan Cricket Association, HZL sign MoU for construction of new Jaipur stadium

JAIPUR: Taking a major leap forward towards speeding up the construction of the new cricket stadium near Chonp village in Jaipur, Rajasthan Cricket Association (RCA) signed an MoU with Vedanta's Hindustan Zinc Limited (HZL) for the first phase development at the SMS Stadium here on Thursday. HZL will invest 300…

The Times of India

Vedanta says confident of meeting debt repayment liabilities

NEW DELHI: Billionaire Anil Agarwal's Vedanta Resources Ltd on Tuesday said it has enough means to meet debt repayment liabilities in the coming quarters as it looked to assuage investor concerns around its financial position.

The Times of India

Vedanta-Foxconn selects Dholera SIR for first semiconductor facility in India

NEW DELHI: In a first, Vedanta and electronics manufacturing firm Foxconn on Monday unveiled their plan to set up a semiconductor and display manufacturing facility in Ahmedabad, news agency PTI reported quoting sources.

The Times of India

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Indian government opposes Vedanta move to sell zinc assets

NEW DELHI: In a setback to billionaire Anil Agarwal's mining group, the government has opposed Vedanta Ltd's proposal to sell its international zinc business to Hindustan Zinc Ltd for $2.98 billion over concerns of valuation.

The Times of India

Vedanta Group inks pacts with 30 Japanese tech firms for semiconductor plant

AHMEDABAD: Vedanta Group signed a memorandum of understanding with some 30 Japanese tech firms, the company announced on Tuesday.

The Times of India

Indian tycoon Adani's mega port hangs in the balance as a fishing community protests

On the main road to billionaire Gautam Adani's planned Vizhinjam mega port on the southern tip of India, a shelter built by the coastal region's Christian fishing community blocks the entrance, preventing further construction.

Reuters

Vedanta announces third dividend of Rs 17.50 per share

NEW DELHI: Mining giant Vedanta on Monday announced the third interim dividend of Rs 17.50 per equity share for the current financial year, amounting to Rs 6,505 crore.

The Times of India

Maharashtra’s loss is Gujarat’s gain

The loss of the Vedanta-Foxconn project has caused an uproar in Maharashtra

The Hindu

MVA is solely responsible for losing out Vedanta-Foxconn, says Minister Uday Samant

He says there are plans to meet Union Ministers to discuss investments in Maharashtra

The Hindu

Ajit Pawar denies allegations that Vedanta decided to move project to Gujarat during MVA rule

The Eknath Shinde-led Maharashtra government and the opposition have been holding each other responsible for the multi-billion project going to neighbouring Gujarat.

The Hindu

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The Hindu

Maharashtra was set to sign Vedanta MoU

In the letter dated July 26, 2022 to Vedanta chairman Anil Agarwal, Chief Minister Eknath Shinde stated that his government remained committed to supporting Vedanta’s investment plans

The Times of India

Foxconn row: Who was responsible for nixing Nanar refinery, Devendra Fadnavis asks opposition

MUMBAI: Maharashtra deputy chief minister Devendra Fadnavis has accused the opposition of making false claims over the Vedanta-Foxconn semiconductor plant going to Gujarat, and also questioned it over the Nanar refinery project.

Benzinga

Top Financial Stories Tuesday, September 13: Elon Musk's Takeover Set To Get Twitter Shareholder Approval, Intel Slashes Mobileye IPO Valuation, Goldman Sachs To Layoff About 500 Jobs And More…

Wall Street Journal

The Hindu

Vedanta, Foxconn sign MoU with Gujarat government to set up semiconductor unit in state

Vedanta and Foxconn to invest ₹1,54,000 crore to set up the facility in Gujarat

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The Times of India

Reliance Industries shares fall 3%; ONGC, Vedanta too decline

NEW DELHI: Shares of Reliance Industries fell nearly 3 per cent on Thursday after the government raised the tax on export of diesel and jet fuel (ATF) and hiked the windfall profit levy on domestically-produced crude oil.

The News Lens

Will Foxconn Pivot Away From China?

Aggressive local competition and rising geopolitical risk make the contract electronics manufacturing giant’s China dependency more precarious than ever.

Newslaundry

Government to approve cutting down of forests without consent from tribals and forest dwellers

The Indian government has devised new rules to let private developers cut down forests without first ensuring the consent of the forest dwellers.

The Hindu

Tamil Nadu makes EV pitch to Foxconn

Government officials meet chairman Young Liu and offer help in expansion

The Hindu

Copper, all in a tangle

An advertisement in the papers last week had the industry in Tamil Nadu sit up and take notice. The contentious Sterlite Copper plant has put out a notice of its intention to sell its plant in Thoothukudi. Pollution issues not withstanding, industrialists said that if this announcement was true, there would…

The Times of India

Vedanta puts on sale its Sterlite copper smelting plant in Tamil Nadu

NEW DELHI: Vedanta has put on sale its Sterlite copper smelting plant at Thoothukudi in Tamil Nadu after facing a lot of hurdles in reopening the unit and has invited an expression for interest from the potential buyers.

The Times of India

Vedanta shares plunge over 12% after company puts Tuticorin copper smelter plant on sale

NEW DELHI: Shares of Vedanta plunged over 12 per cent on Monday after the company offered to sell a copper smelter complex in Tamil Nadu that was closed 4 years ago.

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