Prime Minister Narendra Modi on Saturday laid the foundation stone of India Chip Private Limited, a joint venture between HCL Group and Foxconn, for an Outsourced Semiconductor Assembly & Test (OSAT) facility in YEIDA, Jewar, Greater Noida. The Prime Minister joined the event virtually.
India Chip Pvt Ltd is a 60:40 joint venture between HCL Group and Foxconn. The advanced OSAT facility is expected to become operational by 2028. As per the release, the company has earmarked an investment of ₹3,700 crore over the next few years for the project, which will manufacture display driver chips.
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Roshni Nadar Malhotra, Chairperson, HCL Group, said, “We look forward to working closely with Foxconn, to bring this state-of-the-art project to life at the earliest, and to further strengthen India’s technology story.”
The company said that the investment is expected to generate over 3,500 direct and indirect jobs, support local supply chains, and attract partners across the semiconductor value chain.
With a planned capacity to process 20,000 wafers per month, the facility is aimed at meeting domestic demand for semiconductor components and strengthening the country’s semiconductor supply chain.
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(Edited by : Navneet Singh)
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