The Yamuna Expressway Industrial Development Authority (YEIDA) announced that the Uttar Pradesh Government has greenlit a massive semiconductor manufacturing project near Noida International Airport. With this approval, YEIDA will soon allocate land for the venture.
The UP cabinet, approved semiconductor manufacturing units for Vamasundari (HCL Group) and Tarq (Hiranandani Group) near Jewar Airport. Vamasundari plans to invest an estimated 3,706 INR-Crore to establish a manufacturing unit. This unit is aimed at producing 240,000 small panel driver ICs and display integrated circuits. Additionally, the project has the potential to create 3,780 jobs, stimulating the local economy.
Also Read: India’s Semiconductor Boom: Key Takeaways from Semicon India 2024
Meanwhile, Tarq plans to invest an estimated 28,440 INR-Crore in their facility in Sector 28, bringing large-scale economic and industrial impact. The state IT department is backing both projects, foreseeing the creation of a significant semiconductor manufacturing hub. Notably, the cabinet approved the IT department’s proposal to support a joint venture between Tarq Semiconductor and Foxconn, with the project set to span around 50 Acres.
These semiconductor projects signals a new era for Noida’s industrial landscape, creating a robust foundation for technological growth and regional development.
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