Noidaairport Corridor Attracts Rs 12,000 Cr Investment Covering Semiconductors To Auto-Parts

2025-05-20 02:24:10

(MENAFN- KNN India) Lucknow, May 20 (KNN) With Cabinet approval of the HCL-Foxconn semiconductor unit, plans to transform the Yamuna Expressway area-from Noida to the upcoming Noida International Airport-into a major manufacturing hub have accelerated.

Under the Yamuna Expressway Industrial Development Authority's FDI and Fortune 500 policy, eight companies have committed investments totaling approximately Rs 12,000 crore in the region.

The HCL-Foxconn joint venture, a Rs 3,706-crore project to be established on 48 acres in Sector 28, received Cabinet approval on May 14.

This facility will manufacture display driver chips for various devices including mobile phones, laptops, automobiles, and PCs, becoming India's sixth semiconductor testing and manufacturing unit.

Escorts Group, in collaboration with Japan's Kubota Corporation, plans to invest Rs 4,500 crore to build a tractor parts and engine manufacturing facility on 200 acres in Sector 10.

Additionally, Pine Valley Ventures Pvt Ltd has proposed a Rs 1,080-crore readymade garments and accessories unit on 20 acres in the same sector.

Among companies already allocated land is Fuji Silvertech Concrete Pvt Ltd, an Indo-Japanese joint venture that received 20 acres in Sector 32 under UP's new FDI policy in November 2023.

The Rs 345-crore precast concrete product manufacturing facility is projected 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 and Premji Invest, has been allocated 11 acres in the Medical Device Park in Sector 28 to manufacture dialysis machines, dialysers, and anaesthesia kits.

Minda Corporation Limited, collaborating with Korean Daesung and Indian Loconav, has secured 22 acres in Sector 24 for a Rs 524-crore project expected to generate 2,275 jobs manufacturing ignition switches and steering locks for automobiles.

The company has also proposed a second Rs 508-crore facility on 10 acres in Sector 10 to produce wire harnesses and other automotive components.

Havells India Ltd plans to establish a Rs 800-crore manufacturing unit for fans, air conditioners, lighting, switchgear, and cables on 50 acres in Sector 28 under the Electronics Manufacturing Cluster scheme.

According to officials, Havells will serve as the anchor investor for a 206-acre electronics manufacturing cluster along the Yamuna Expressway, which received central government approval last month.

The cluster will feature flatted-factory complexes, modern industrial infrastructure, and dedicated zones for electronics manufacturing.

Poly Medicure Ltd has proposed a Rs 150-crore medical equipment manufacturing unit on 7 acres in the Medical Device Park.

According to the CEO, "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."

(KNN Bureau)

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