Vedanta in talks to raise up to $3-B debt in semiconductors push

Vedanta is in talks with banks to raise debt of $2.5 billion-$3 billion to bolster its semiconductor and display manufacturing plans. The oil-to-metals conglomerate decided in February to diversify into chip manufacturing and formed a joint venture with Taiwan's Foxconn. It has a total planned investment outlay of $20 billion. Vedanta is seeking incentives such as 1,000 acres (405 hectares) of free land, and cheaper water and power from state governments as part of its foray into semiconductors and displays