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Vedanta-Foxconn talks with STMicroelectronics hit roadblock

The Vedanta-Foxconn semiconductor consortium’s discussions with STMicroelectronics for inducting the European company as a technology partner is stuck due to lack of agreement on finer details of technology transfer, the duration of the partnership and the funds to be invested by each company. Key sticking points include STMicro’s desire to limit the scope of the technology transfer as well as including a sunset clause on the duration of the joint venture.

Why it’s important: The induction of a technology partner is key for the Vedanta-Foxconn consortium qualifying as a beneficiary of the central government’s Rs 76,000 crore incentive since neither Vedanta nor Foxconn have the required experience in operating a semiconductor factory. Moneycontrol

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