(MENAFN- KNN India)
Noida, Nov 6 (KNN) The state cabinet has approved two significant Semiconductor manufacturing investments this week, positioning the city to emerge as one of India's premier semiconductor manufacturing destinations.
The larger of these investments comes from Tarq Semiconductors, a Hiranandani Group joint venture, with a proposed investment of Rs 27,000 crore, while Vama Sundari Investments of the HCL Group has committed Rs 3,700 crore.
The Tarq facility, slated for development on 125 acres in Sector 28 near the upcoming Noida International Airport, will manufacture integrated circuits and microchips essential for various electronic devices.
According to Yamuna Expressway Industrial Development Authority (YEIDA) CEO Arun Vir Singh, the facility will serve as a flagship project in Uttar Pradesh's semiconductor supply chain development, with the Hiranandani Group committing to complete construction within two years.
The project will receive support through capital subsidies from the state government and additional central incentives. Of the total land allocation, 114 acres will be dedicated to industrial use, with 11 acres reserved for green space.
The proposal, initially submitted under the India Semiconductor Mission last April, awaits final clearance from the central government.
Meanwhile, the HCL Group's venture through Vama Sundari Investments, in partnership with Foxconn Hon Hai Technology, will establish a fabrication unit near Jewar.
The facility, set to produce 2.4 lakh small panel driver ICs and display driver integrated circuits annually, will occupy 50 acres in Sector 10. Vama Sundari holds a 60 per cent stake in this joint venture, with Foxconn controlling the remaining 40 per cent.
The region's semiconductor ecosystem is further strengthened by additional approved projects, including Bharat Semi Systems' planned facility in Sector 10.
This start-up's project, part of an Indo-US collaboration, will focus on manufacturing specialised semiconductors for national security applications.
Additionally, Kaynes Semicon Private Limited has proposed an OSAT facility on 50 acres, partnering with international technology firms for compound semiconductor manufacturing.
These developments align with the state's broader initiative to create a robust semiconductor manufacturing hub around the Noida International Airport, marking a significant step in India's semiconductor industry development.
(KNN Bureau)
MENAFN06112024000155011030ID1108857989
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.