India’s Vedanta is in talks with banks to raise debt of $2.5-$3 billion to bolster its semiconductor and display manufacturing plans, as it races to become the country’s first chipmaker, a top company official told Reuters on Saturday.
The oil-to-metals conglomerate decided in February to diversify into chip manufacturing and formed a joint venture with Taiwan’s Foxconn. It has a total planned investment outlay of $20 billion.
