According to senior officials in the Gujarat government, the Vedanta-Foxconn project a joint venture between Taiwan's Foxconn and India's Vedanta is expected to be built in Dholera Special Investment Region (SIR).
The Bloomberg quoted people familiar with the matter who said Agarwal’s representatives met with large funds from the Middle East, Singapore, and the US over the past three months to garner financing commitments for the manufacturing business. It said that all the funds gave the opportunity a pass leaving them with almost no backers for the project.
A blame game has started in Maharashtra following the announcement that the joint venture semiconductor project of Vedanta and Foxconn, proposed to be set up near Pune city earlier, will come up in Gujarat.
Union Finance Minister Nirmala Sitharaman today slammed the opposition parties in Maharashtra for "shedding crocodile tears" over shifting of a Vedanta-Foxconn semiconductor plant to Gujarat.