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The Indian corporation "Vedanta" (Vedanta) and the Taiwanese giant in the field of electronics "Foxconn" (Foxconn) signed an agreement with the authorities in the Indian state of Gujarat for the implementation of a project for the production and sale of semiconductors, reported Reuters.

It is planned to invest 20 billion dollars in it.

The joint venture behind the project has received subsidies from the state, including for capital costs and electricity bills, Reuters reported.

The project envisages the construction of a semiconductor plant and showroom near Ahmedabad, the largest city in Gujarat.

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Authorities in the western Indian state said the project is expected to create more than 100,000 jobs.

Gujarat, where Indian Prime Minister Narendra Modi was born, was competing for the project with the most developed state in India - Maharashtra, notes Reuters.

Foxconn is responsible for the technical part of the project, and mining and oil corporation Vedanta for its financing.

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