The Hiranandani Group has announced plans to set up a semiconductor park in Sector 28 in the Yamuna Expressway Industrial Development Authority (YEIDA) area, which would become the second such park in the country after the Dholera Special Investment Region (SIR) in Gujarat.
The company had signed a deal with the UP government during the February 2023 UP Global Investors Summit and proposed to invest Rs 17,000 crore in the project.
Hiranandani Group Awaits Approval to Build Semiconductor Park
The CEO of Hiranandani Group confirmed that the company had applied to the Central government under the Indian Semiconductor Mission scheme and submitted a fee of Rs 50 lakh. The group has also sent its application to the state government.
YEIDA officials have identified 91 acres in Sector 28 where the park could be built. Once approved, the project is expected to give employment to 1,000 people.
Semiconductor Assembly, Testing, and Packaging Plants to be Built
Under the Memorandum of Understanding (MoU), Tarq Semiconductors Private Limited, a subsidiary of Hiranandani Group, plans to set up semiconductor assembly, testing, and packaging (ATP) plants.
The project will introduce three distinct semiconductor ATP production lines: legacy, mature and complex. ATP plant 1 will be constructed and commissioned over 24 months in phase 1 of the project, while ATP plants 2 and 3 will be constructed and commissioned over the next 24 months in phase 2 of the project.
Hiranandani Group Plans Rs 2,500 Crore Investment in First Phase
In a letter to YEIDA, CEO Hiranandani stated that the group anticipated investing over Rs 2500 crore in the first phase of the project. The company is already successfully operating in Uttar Pradesh through its data center division, Yotta Data Services Pvt Ltd, and is interested in expanding its footprint by piloting its semiconductor division project in the state.
Wrapping Up
The establishment of a semiconductor park in the YEIDA area by the Hiranandani Group is a significant development that will boost India’s domestic manufacturing capabilities. The park will introduce new semiconductor ATP production lines and provide employment opportunities for over 1,000 people.
The Hiranandani Group’s investment in the project highlights the growing interest in the Indian semiconductor industry, and it is expected to contribute significantly to India’s electronics manufacturing sector.
Once the project is approved, it will provide a significant boost to the state and the country’s economy.
