Anil Agarwal-led Vedanta Group has signed memoranda of understanding (MoUs) with 20 Korean display glass manufacturers, CNBC-TV18 reported, citing news agency Bloomberg.
Earlier in 2022, Vedanta-Foxconn announced setting up semiconductor and glass fab units in Gujarat. The project envisages a total investment of $20 billion with an employment potential of over 100,000 people to provide affordable electronics to Indians and attract global players across the value chain.
Also Read: Vedanta in talks with US-based Farallon to raise at least $1 billion
Bloomberg reported earlier in April that Vedanta is in talks with US-based Farallon Capital Management to raise at least $1 billion, a report. The fund-raising structure hasn’t been finalised yet and discussions are underway.
Last year, Vedanta topped the chart for the stock with the highest dividend yield in India. The company has been relying on dividends from the Mumbai-listed company to repay debts of its London vehicle, which has been facing cash flow concerns, the report said.
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