Foxconn eyes STMicro tie-up to build semiconductor plant in India – Newz9

Foxconn Technology is teaming up with STMicroelectronics in a bid to build a semiconductor manufacturing unit in India.
Taiwan’s Foxconn and Franco-Italian STMicro are making use of for state assist for a 40-nanometer chip plant, individuals conversant in the matter stated. Such mature chips are used in vehicles, cameras, printers and all kinds of different machines.
The transfer comes after Foxconn’s tried partnership with billionaire Anil Agarwal’s Vedanta Resources fell aside following a yr of little progress.
By partnering with STMicro, Foxconn is tapping the experience of a chip-trade pioneer to broaden in the profitable semiconductor enterprise.
New Delhi has requested Foxconn – greatest often called Apple‘s key meeting accomplice – for extra particulars about its partnership with STMicro, the individuals stated.
Foxconn can also be in talks with a couple of different corporations which have chip-making expertise, considered one of them added.
India’s expertise ministry did not reply to a request for remark. Foxconn and STMicro’s spokespersons declined to remark.