HCL-Foxconn nod gives industry plans off Yamuna expressway big boost
Noida: Cabinet's approval last week of the HCL-Foxconn semiconductor-manufacturing unit has put wind in the sails of plans to turn the Yamuna Expressway area into a large manufacturing hub as an extension of Noida, with the upcoming
Noida International Airport
as its nucleus.
Investments to the tune of Rs 12,000 crore from eight companies are lined up in the region under the Yamuna Expressway Industrial Development Authority's FDI and Fortune 500 policy.
The HCL-Foxconn joint venture, a Rs 3,706-crore project that is to come up on 48 acres in Sector 28, will manufacture display driver chips for mobile phones, laptops, automobiles, PCs, and myriad of other devices that have da isplay. Poised to be India's sixth semiconductor and testing unit, the project got the Cabinet's approval on May 14.
Other major investments proposed in the region are a Rs 4,500-crore facility by Escorts Group, which will build a tractor parts and engine unit. To be set up in collaboration with Japan's Kubota Corporation, the facility is proposed to come up on 200 acres in Sector 10. Also lined up is a Rs 1,080-crore readymade garments and accessories unit by Pine Valley Ventures Pvt Ltd on a 20-acre plot in Sector 10.
Of the three companies allotted land so far is Fuji Silvertech Concrete Pvt Ltd, an Indo-Japanese joint venture that proposes to set up a precast concrete product manufacturing unit on 20 acres in Sector 32.
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The Rs 345-crore facility was allotted land under UP's new FDI policy in Nov 2023 and is expected to create 5,844 jobs.
TI Medical Private Limited, a Rs 211-crore joint venture between Fortune India 500 company Murugappa Group's Tube Investments of India (TII) and Premji Invest, is the second firm that was allotted 11 acres in the Medical Device Park in Sector 28 to manufacture dialysis machines, dialysers and anaesthesia kits.
Minda Corporation Limited, in collaboration with Korean Daesung and Indian Loconav, has got 22 acres in Sector 24 to manufacture ignition switches and steering locks for automobiles. The Rs 524-crore project is expected to create 2,275 jobs.
Minda Corporation has proposed to set up a second unit to manufacture wire harnesses and other automotive components. For the Rs 508-crore facility, it wants land on 10 acres in Sector 10.
Havells India Ltd also proposes to set up a Rs 800-crore unit for manufacturing fans, air conditioners, lighting, switchgear and cables and has sought 50 acres in Sector 28 under the
Electronics Manufacturing Cluster
(EMC 2.0) scheme.
Officials say, Havells is to act as the anchor investor for a 206-acre electronics manufacturing cluster along the Yamuna Expressway, which was approved last month by the Centre. The cluster will feature flatted-factory complexes, modern industrial infrastructure and dedicated zones for electronics manufacturing.
Poly Medicure Ltd has also proposed to set up a medical equipment manufacturing unit on 7 acres in the Medical Device Park. The company plans to invest Rs 150 crore.
"The Noida International Airport and dedicated industrial parks have made the Yamuna region highly attractive for both domestic and global investors. These investments will not only create 22,000 jobs but also position the area as a key manufacturing hub in North India," said the CEO.
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