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Vedant-Foxconn Failure Has Pushed Maharashtra Youth's Future in Dark: Congress


Vedant-Foxconn Failure Has Pushed Maharashtra Youth's Future in Dark: Congress
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Mining giant Vedanta, along with Taiwan’s electronics manufacturer Foxconn, had proposed USD 22 billion investment in a manufacturing facility for semiconductors. Until last month, the project was with Maharashtra, however, Gujarat has pipped the former and landed the mega project.

Maharashtra Congress leader Satyajeet Tambe has urged Deputy Chief Minister Devendra Fadnavis to urgently look into the matter and bring the Vedanta-Foxconn semiconductor plant project back to Maharashtra, which has now been announced in Gujarat.

"Such a project has never been implemented in the entire world except in Korea, not even in China. Vedanta group was bringing this technology for the first time where Maharashtra had the opportunity to generate thousands of jobs and ancillary units which would have further generated opportunities for the youth. This is a huge blow for the Maharashtra youth and yet another betrayal against the people of Maharashtra. This failure is pushing their future into the dark. Devendra Fadnavis must try his best and ensure the project is brought back to Maharashtra," said Satyajeet Tambe.

Last year, on 29 September 2021, Satyajeet Tambe had written to cabinet minister Piyush Goyal urging to set up a semiconductor facility in Nashik. He also expressed his views in an article dated 12 September 2021, stating the lack of semiconductor facilities in India and how the government is paying 'micro' attention to such a 'macro' matter. Earlier last month as well, Vedanta and Foxconn delegation had met Maharashtra CM Eknath Shinde and deputy CM Devendra Fadnavis for the proposed USD 22 billion investment.

Vedanta required 1,000 acres of land free of cost on a 99-year lease, and water and power at concessionary and fixed prices for 20 years. The manufacturing unit was expected to bring with it around 2 lakh jobs and Talegaon, Pune, was supposedly the preferred choice due to its infrastructure and ease of skilled manpower availability.

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