Vedanta appoints David Reed as CEO of global semiconductor business
1 min read . Updated: 06 Feb 2023, 05:23 PM IST
PremiumVedanta and Taiwan's Foxconn will invest $19.5 billion to set up semiconductor and display production plants in Gujarat.
Anil Agarwal-led Vedanta on Monday announced David Reed as the chief executive officer of its global semiconductor business. He will be responsible for setting up a semiconductor fab unit and semiconductor assembling and testing unit.
He was previously associated with NXP Semiconductors, where he was Executive Vice President and General Manager of global operations. He moved to NXP as part of the merger with Freescale Semiconductor, where he had served as senior vice president for manufacturing operations. Previously, David was vice president and general manager at GlobalFoundries.
“He has played a pivotal role in shaping the entire global semiconductor industry. His expertise and experience will be an asset as we embark upon this critical journey with Foxconn to help create a sustainable domestic electronic manufacturing ecosystem in India, in line with Prime Minister Narendra Modi's vision of an AatmaNirbhar Bharat," said said Anil Agarwal, Chairman, Vedanta.
Speaking on his appointment, David Reed said, “This venture is a watershed development for the global semiconductor industry, and I am excited to be part of it. I look forward to leading a diverse team of highly talented and committed professionals and will work alongside them to bring this historic project to fruition."
In September 2022, Vedanta signed an MoU with Gujarat government to set up India's first semiconductor fab unit, a display fab unit, and a semiconductor assembling and testing unit in the state.
Vedanta and Taiwan's Foxconn will invest $19.5 billion to set up semiconductor and display production plants in Gujarat.
The investment of ₹1.54 lakh crore, which Gujarat said was the largest ever by any group in an Indian state. The companies had also said that the Vedanta-Foxconn joint venture project will create over 100,000 jobs in Gujarat.
Vedanta will setup a display manufacturing unit with an investment of ₹945 billion and separate chip-related production units by investing ₹600 billion, the state government had said in its statement.
