Shifted project after professional advice: Vedanta Group Chairman Agarwal

Amid raging controversy over shifting of the mega-crore Vedanta-Foxconn project from Maharashtra to Gujarat, Vedanta Group Chairman Anil Agarwal said that it has been done after professional and independent advice.

The Vedanta-Foxconn had been professionally assessing sites for a multi-billion dollar investment for a long time.

“This is a scientific and financial process which takes several years. We started this about two years ago,” Anil Agarwal said.

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"We decided on Gujarat a few months ago as they met our expectations. But in a July meeting with Maharashtra leadership, they made a huge effort to outbid other states with competitive offers. We have to start in one place and based on professional and independent advice we have chosen Gujarat,” Agarwal said in a series of tweets.

“This multibillion dollar long-term investment will change the course of Indian electronics. We will create a pan-India ecosystem and are fully committed to investing in Maharashtra as well. Maharashtra will be our key to forward integration in our Gujarat joint venture,” he said.

“Our investments in semiconductor and display glass production will create an ecosystem of industries across the country. We are committed to invest in Maharashtra. We will soon create a hub where Maharashtra will be part of our forward integration. We, at Vedanta-Foxconn, have been assessing the sites and engaging in dialogue with state governments for the last two years, and hope to continue these conversations for the growth of our country in years to come,” he added.