--- title: "Vedanta to Take Over Foxconn Chip Joint Venture From Twin Star Technologies" description: "Vedanta, a metals and mining conglomerate, announced that it would acquire 100% of Vedanta Foxconn Semiconductors Private Limited (VFSPL)" author: "Yashna Bawa" published: 2023-07-10 updated: 2023-07-10 canonical: https://www.mindstick.com/news/3146/vedanta-to-take-over-foxconn-chip-joint-venture-from-twin-star-technologies category: "information technology" tags: ["technology", "technology news"] reading_time: 2 minutes --- # Vedanta to Take Over Foxconn Chip Joint Venture From Twin Star Technologies **New Delhi, India** - Vedanta Limited, a metals and mining conglomerate, announced on Friday that it would acquire 100% of Vedanta Foxconn [Semiconductors](https://www.mindstick.com/news/3094/india-is-next-key-location-for-semiconductor-manufacturers) [Private Limited](https://answers.mindstick.com/qa/98829/how-mindstick-software-private-limited-is-helping-us-all) (VFSPL) and Vedanta Displays Limited (VDL) from its [holding company](https://answers.mindstick.com/qa/95511/airasia-group-of-which-country-has-changed-the-name-of-its-listed-holding-company-to-capital-a-to-reflect-the-diversity-of-its-business-portfolio), Twin Star [Technologies](https://www.mindstick.com/blog/11429/tools-and-technologies-to-learn-in-2017) Limited. VFSPL and VDL are joint ventures between Vedanta and Foxconn, a Taiwanese [electronics](https://www.mindstick.com/articles/324025/what-skills-do-you-need-to-build-your-own-electronics) manufacturing company. The two companies were formed in 2021 to set up semiconductor and display [manufacturing plants in India.](https://www.mindstick.com/news/3094/india-is-next-key-location-for-semiconductor-manufacturers) The [acquisition](https://www.mindstick.com/news/2246/following-elon-musk-s-acquisition-gm-suspends-its-twitter-advertising) of VFSPL and VDL will give Vedanta a major foothold in the semiconductor and display industries. The company said that it plans to invest $19.5 billion in the two businesses over the next five years. Vedanta's CEO, [Anil Agarwal](https://answers.mindstick.com/qa/49279/what-is-anil-agarwal-net-worth), said that the acquisition was "a major step forward in our plans to become a leading player in the [global semiconductor](https://answers.mindstick.com/qa/114565/how-is-the-global-semiconductor-shortage-affecting-tech-industries-worldwide) and display industries." He added that the company was "committed to building a world-class semiconductor and display ecosystem in India." The acquisition of VFSPL and VDL is the latest in a series of moves by Vedanta to expand its presence in the semiconductor industry. In 2022, the company acquired a 70% stake in Neo Power Systems, a chip [design company](https://www.mindstick.com/articles/12864/4-questions-to-ask-while-you-hire-a-web-design-company-in-fresno). Vedanta also has plans to build a semiconductor manufacturing plant in India. The acquisition of VFSPL and VDL is a sign of the growing importance of the semiconductor industry in India. The country is a major consumer of semiconductors, but it does not have a significant manufacturing base. The government of India has been trying to attract investment in the semiconductor industry, and the Vedanta acquisition is a major boost to those efforts. --- Original Source: https://www.mindstick.com/news/3146/vedanta-to-take-over-foxconn-chip-joint-venture-from-twin-star-technologies Copyright © MindStick Software Pvt. Ltd. This Markdown version is provided for developers, AI systems, and offline reading.