Digitimes has an interesting article, in which it details plans by a company based in India to establish a $3 billion AMOLED fab, in India .
The company, Rajesh Exports, is a gold trading company, that aims to become an EV battery producer, and an AMOLED display maker. The company apparently has launched a subsidiary called Elest for the AMOLED project, and it started talking to three states in India, in order to gain support for its 240 Rupee (around $3.1 billion USD) fab.
Elest also aims to file an application for support from the Indian government, under its $10 billion Semicon India Program which was announced in February 2022. Altogether, Elest hopes to get around 50% of the total funds from the Indian government.
The plan, according to the report, is for Elest to establish 6-Gen AMOLED display fabs.
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