The upcoming facility located in the YEIDA region is likely to be invested with $37.2 million by Foxconn, who is also having a 40 percent stake in the partnership.
In a bid to boost the country’s semiconductor manufacturing ecosystem, the government of Uttar Pradesh (UP) has finally allotted 30 acres of land for the joint venture between Foxconn and HCL. The land has been given near the upcoming Jewar airport in Noida to set up one of the largest chip outsourced assembly and testing (OSAT) facilities in India.
People familiar with the matter told the media that the state government has approved the project, and once it is approved by the central government, it will be the first such venture in the UP. The upcoming facility located in the Yamuna Expressway Industrial Development Authority (YEIDA) region is likely to be invested with $37.2 million by Foxconn, which also has a 40 percent stake in the partnership.
HCL Group has most of the investment, and Foxconn has requested that the facility’s location be decided upon. The unnamed source added that UP’s Noida is already home to HCL, and therefore, the company prefers the region as its headquarters. Experts believe that apart from Gujarat, UP is an ideal location to set up chip units because the state’s promising incentives backed by capital and interest subsidies coupled with infrastructure and land support will boost the development.
At the inaugural session of Semicon India 2024, Chief Minister Yogi Adityanath said that Uttar Pradesh is now manufacturing 55 percent of mobile phones in India and over half of all mobile components. For central government clearance, the Indian Semiconductor Mission (ISM) has requested that Foxconn and HCL submit a technology document or technical agreement for OSAT. Once submitted, the approval will be granted within one or two weeks, added ISM.
