Tuesday, October 4News That Matters

Tag: Vedanta Resources

Vedanta Resources Semiconductor plans won’t cheap away at Liquidity:S&P
Business

Vedanta Resources Semiconductor plans won’t cheap away at Liquidity:S&P

The proposed Rs 1.54 lakh crore foray into chip manufacturing by the group helmed by mining magnate Anil Agarwal's Vedanta Resources won't likely have a negative impact on the company's credit profile, according to S&P Global Ratings on Monday. "This is because the company has reiterated that the USD 20 billion related investment will be carried out outside of Vedanta  Resources. The business will be undertaken in a separate entity under Vedanta Resources' holding company Volcan Investments Ltd," it stated. A deal for the construction of a semiconductor factory in Gujarat was signed last week by Vedanta and its partner, the enormous Taiwanese electronics manufacturer Foxconn. Automobiles, mobile phones, ATM cards, and other digital consumer goods all depend on semiconductor chips,...