Inda’s leading real estate developer Hiranandani Group has proposed setting up a semiconductor manufacturing plant in the northern state of Uttar Pradesh, envisaging an investment of around $2.07 billion, according to a company statement.
The group said that it has already signed an agreement with the Uttar Pradesh government to locate the plant in the Yamuna Expressway Industrial Development Authority area.
The company has submitted applications for the necessary approvals with the appropriate authorities and is awaiting a formal response before commencing the project work.
This will be the second semiconductor manufacturing plant in the country, after Vedanta Group’s plans to set up a project in the western state of Gujarat in collaboration with Foxconn Semiconductors Limited, Taiwan.