Awaiting cabinet approval, HCL-Foxconn JV seeks EPC partners L&T and CTCI for Uttar Pradesh’s first OSAT facility, with Foxconn investing $37.2 million.
The joint venture between HCL and Foxconn has initiated talks with potential engineering, procurement, and construction (EPC) partners for its upcoming outsourced semiconductor assembly and testing (OSAT) facility. According to the Economic Times, the companies are reportedly in discussions with Larsen & Toubro (L&T) and Taiwan’s CTCI, who have established relationships with Foxconn.
The OSAT facility, located in the Yamuna Expressway Industrial Development Authority (YEIDA) region, close to the upcoming Jewar Airport in Noida, is likely to be Uttar Pradesh’s first, once approved.
Foxconn holds a 40% stake in the venture, with an investment reportedly valued at $37.2 million.
EPC companies are crucial in overseeing projects from design and engineering to construction and completion. As per the report, a key meeting was arranged by HCL when Foxconn’s semiconductor group head, Bob Chen, visited India.
The discussions, held in Gujarat, were considered a preliminary step to assess potential partners for the OSAT facility. The joint venture is aiming to secure Cabinet approval for the project by the end of this month.
While L&T and CTCI have extensive experience in EPC services, with CTCI also having worked on Foxconn’s Chennai and Bengaluru campuses, neither company has publicly commented on the ongoing talks. CTCI has also been involved in the construction of TSMC’s chip plant in Arizona.
As of now, the joint venture is awaiting Cabinet approval to move forward with the project.
