A significant development in India’s semiconductor sector is on the horizon as the Hiranandani Group announces plans for the country’s second semiconductor park, set to be located in the Yamuna Expressway Industrial Development Authority (YEIDA) area near Noida, Uttar Pradesh. This initiative, spearheaded by CEO Darshan Hiranandani, aims to position India as a vital player in the global semiconductor supply chain.
Following the establishment of semiconductor and display manufacturing facilities by Vedanta Limited and Foxconn in the Dholera Special Investment Region (SIR) of Ahmedabad, this new park marks another leap forward for India’s burgeoning semiconductor landscape.
Arun Vir Singh, CEO of YEIDA, revealed that Tarq Semiconductors Private Limited, part of the Hiranandani Group, has applied for necessary approvals from the central government under the Indian Semiconductor Mission Scheme, with an application fee of Rs 50 lakhs already submitted. Concurrently, the application has also been sent to the Uttar Pradesh government. Once approved by the central government, the state cabinet will facilitate land allocation for the project.
At the UP Global Investors Summit in February 2023, the Hiranandani Group signed a memorandum of understanding (MoU) with the Uttar Pradesh government, committing to an investment of INR 170 billion for the semiconductor park. The MoU outlines plans for Tarq Semiconductors to set up assembly, testing, and packaging (ATP) plants for semiconductor production.
The project will feature three distinct types of semiconductor ATP production lines: a legacy line, a mature line, and a complex line. The first ATP plant is scheduled for completion within 24 months during the initial phase, followed by the next two plants in a subsequent 24-month phase. This venture is expected to generate approximately 1,000 jobs, significantly contributing to the local economy.
In a recent communication to YEIDA, Darshan Hiranandani indicated that the company anticipates an investment of over Rs 25 billion in the first phase. He noted that the Hiranandani Group has already established a successful presence in Uttar Pradesh through its data center division, Yotta Data Services Pvt. Ltd., and is eager to expand into the semiconductor sector.
The development of this semiconductor park is a critical step toward fulfilling India’s ambitions in the semiconductor industry. It aligns with government initiatives like the Indian Semiconductor Mission, which seeks to foster a vibrant ecosystem for semiconductor and display manufacturing within the country.
As India attracts increasing investments in the semiconductor field, the Hiranandani Group's proposed Semiconductor Park in YEIDA is poised to play a crucial role in enhancing the nation’s stature in the global semiconductor supply chain. This initiative not only promises job creation but also aims to propel advancements in science and technology, benefiting the local community and the broader economy.
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