The Indian conglomerate is nearing a deal after weeks of negotiations with lenders, including Cerberus Capital Management LP, Davidson Kempner Capital Management LP, Varde Partners Inc., and Ares SSG Capital Management Ltd., according to people familiar with the matter, who asked not to be named because the matter is private.
In 2022, Vedanta-Foxconn announced a semiconductor fab in Gujarat. The project envisages a total investment of $20 billion to provide affordable electronics to Indians and attract global players across the value chain
Amid a row over a Vedanta-Foxconn multi-billion project going to Gujarat, the Maharashtra government has after a review cleared 181 plots sanctioned by the previous Maha Vikas Aghadi (MVA) government for industrial projects.