Vedanta Seeking Global Minds To Aid in Operating New Factory
The newly appointed CEO of Vedanta Resources Ltd.'s unproven display business is looking for global talent to build and operate a $4 billion factory in western India.
YJ Chen, a former employee of Chinese display maker HKC Corp., stated that the display venture will soon begin recruiting from South Korea, Taiwan, Japan, and other regions to establish a liquid crystal display panel fabrication unit in India. According to him, the factory will create up to 3,500 direct jobs.
"We need a lot of technicians, very talented people," said Chen, who has 23 years of experience in the display industry, in an interview in Mumbai, India's financial hub. "That's the biggest challenge — people."
Even as it’s suffering from a heavy debt load, billionaire Anil Agarwal’s metals and mining conglomerate is expanding in electronics components to take advantage of India’s push to become a technology manufacturing hub. The display business is separate from Vedanta’s struggling chip venture and may find an easier path to success as it’s a less techically demanding undertaking.
Vedanta, which has partnered with Foxconn Group affiliate Innolux Corp. for the display business, plans to manufacture glass and assemble LCD panels at its new factory. The unit could start production toward the end of 2025 if its gets crucial funding from Prime Minister Narendra Modi’s government, Chen said.