The Uttar Pradesh cabinet has approved allotment of 50 acres of land to both HCL and Kaynes
The allotment of lands have been finally approved to Kaynes Technology and HCL by the government of Uttar Pradesh in order to set-up a massive semiconductor manufacturing unit in Noida’s YEIDA’s sector 10, close to the international airport. As per reports, 50 acres of land will be provided to each of the companies.
According to the spokesperson of the UP government, both HCL and Kaynes would be investing an amount of more than Rs 8000 Crore, which is further speculated to provide employment opportunities in the state to more than 5,000 people. The final procedure is to get approval from the central government.
Kaynes and HCL told the media that applications for the approvals are already sent to the union government to bolster the semiconductor manufacturing industry in the country. Earlier, the UP government had reserved 125 acres of land for Hiranandini Group’s Tarq Semiconductor in Noida’s sector 28. But that application is yet to be approved by the ministry.
VSIPL, also known as Vama Sundari Investments, is promoting HCL Group as it holds 44.2 percent share in HCL. In association with Foxconn Hon Hai Technology India Mega Development Private Limited, VSIPL will also set-up an OSAT unit in the country. VSIPL will have a share of 60 percent in this joint venture, while the rest of the share will be available with Foxconn.
The upcoming unit will manufacture small panel driver ICs and display driver integrated circuits (DDIC). With a yearly production capacity of 2.4 lakh units, around 3,780 direct and indirect employment is expected to be generated. The new YEIDA semiconductor facility will require 2,000 MLD of water, which will have 85 percent water recycling efficiency. In the initial five years, the overall expenditure is estimated around Rs 3,706.1 Crore.
