The newly appointed chief executive officer of Vedanta Resources Ltd’s untried display business is seeking to hire global talent to build and run a US$4 billion factory in western India.
Y.J. Chen (陳猷仁), who previously worked at Chinese display maker HKC Corp (惠科), said the display venture would soon begin recruiting from South Korea, Taiwan, Japan and other regions to set up an LCD panel plant in India.
The factory would create as many as 3,500 direct jobs, he said.
Photo: Reuters
“We need a lot of technicians, very talented people,” Chen, who has 23 years of experience in the display industry, said in an interview in Mumbai, India. “That’s the biggest challenge — people.”
Even as it is suffering from a heavy debt load, billionaire Anil Agarwal’s metals and mining conglomerate is expanding in electronics components to take advantage of India’s push to become a technology manufacturing hub. The display business is separate from Vedanta’s struggling chip venture and might succeed more easily as it is a less technically demanding undertaking.
Vedanta, which has partnered with Taiwan’s Innolux Corp (群創) for the display business, plans to manufacture glass and assemble LCD panels at its new factory.
The unit could start production in late 2025 if it gets crucial funding from Indian Prime Minister Narendra Modi’s government, Chen said.
Modi has pledged US$10 billion to woo chip and display makers to India, promising his administration would bear half the cost of setting up all semiconductor and display fabrication sites.
Hon Hai Precision Industry Co (鴻海精密), parent company of Innolux, has set up a joint venture with Vedanta Ltd to build a semiconductor plant in Gujarat state, it said.
While Vedanta’s chip plans have yet to get government backing, its display business could find it easier to win state incentives with key tech partnerships in place. Vedanta also owns Japan-based AvanStrate Inc, which makes layers used in LCD panels.
Vedanta is seeking to grab a slice of India’s display market, which it expects to grow to an annual US$30 billion over the next seven years. It will have to compete with inexpensive Chinese LCDs and develop newer displays for long-term success.
“We need to build our own supply chain in India,” Chen said. “We will focus on new designs to lower costs and compete with the Chinese.”
Additional reporting by staff writer
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Chizuko Kimura has become the first female sushi chef in the world to win a Michelin star, fulfilling a promise she made to her dying husband to continue his legacy. The 54-year-old Japanese chef regained the Michelin star her late husband, Shunei Kimura, won three years ago for their Sushi Shunei restaurant in Paris. For Shunei Kimura, the star was a dream come true. However, the joy was short-lived. He died from cancer just three months later in June 2022. He was 65. The following year, the restaurant in the heart of Montmartre lost its star rating. Chizuko Kimura insisted that the new star is still down
While China’s leaders use their economic and political might to fight US President Donald Trump’s trade war “to the end,” its army of social media soldiers are embarking on a more humorous campaign online. Trump’s tariff blitz has seen Washington and Beijing impose eye-watering duties on imports from the other, fanning a standoff between the economic superpowers that has sparked global recession fears and sent markets into a tailspin. Trump says his policy is a response to years of being “ripped off” by other countries and aims to bring manufacturing to the US, forcing companies to employ US workers. However, China’s online warriors
RSS