Mumbai, April 10 -- Vedanta is actively scouting for a strategic partner to support its ambitious $20 bn expansion plan aimed at transforming the group into a diversified manufacturing powerhouse. The plan covers high-growth sectors including semiconductors, display fabs, energy transition, and electronics manufacturing, with a focus on aligning with India's 'Make in India' initiative.
Chairman Anil Agarwal revealed that discussions are ongoing with global players to form a joint venture that would bring both capital and expertise. The proposed expansion is part of Vedanta's vision to move beyond its traditional metals and mining base into cutting-edge technology sectors. A large portion of the capital will be directed toward setting up semiconductor and display fabrication units, areas where Vedanta has already committed significant investments in partnership with Foxconn, although that earlier JV has since been dissolved.
The company's diversification strategy also includes investments in battery storage, renewable energy, and advanced electronics. By onboarding a strategic partner, Vedanta hopes to accelerate project execution, manage risks, and boost credibility in newer sectors.
The expansion comes as Vedanta restructures its businesses and seeks to unlock long-term shareholder value. If successful, the venture could place India firmly on the global semiconductor and tech manufacturing map.
Published by HT Digital Content Services with permission from Construction World.