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Foxconn plans to invest ₹424 crore in semiconductor JV with HCL | Mint
Livemint
·
10m ago
Medial
- Foxconn plans to invest up to ₹424 crore in a semiconductor joint venture (JV) with HCL Group. - The iPhone manufacturer purchased a 40% stake in the JV for nearly ₹312 crore. - The investment will be used for the Foxconn-HCL OSAT plant to be set up in India. - Foxconn has invested ₹246 crore in the JV through its subsidiary Big Innovation Holdings. - The company has invested more than $1.4 billion in India and employs over 48,000 people in the country. - Foxconn is manufacturing Apple iPhones in India and has plans to set up an EV and battery plant in the country.
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Related News
Foxconn teams up with HCL Group to start chip packaging in India
Economic Times
·
1y ago
Medial
Foxconn and HCL Group are joining forces to establish an outsourced assembly and testing unit (OSAT) for semiconductor chips in India. Foxconn will hold a 40% stake in the partnership and invest around $37.2 million, while HCL will hold the remaining stake. This move aligns with HCL Group's plans to venture into chip assembly, leveraging its strong engineering and manufacturing background. An OSAT unit provides third-party chip packaging and testing services to semiconductor fabrication units.
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Foxconn-HCL chip JV may assemble in UP
Economic Times
·
10m ago
Medial
Taiwan's Foxconn and HCL Group's joint venture has been allocated 30 acres of land near the upcoming Jewar airport in Noida, Uttar Pradesh. The venture aims to set up a semiconductor outsourced assembly and testing (OSAT) unit, which would be the first of its kind in the state. With an investment of $37.2 million, Foxconn holds a 40% equity stake in the project. If approved by the central government, the unit will benefit from HCL's strong presence and familiarity with the region. Meanwhile, the Tata Group is also planning to establish an OSAT facility in Assam.
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HCL-Foxconn OSAT facility will help meet growing demand for advanced technologies: Roshni Nadar Malhotra
Economic Times
·
2m ago
Medial
HCL and Foxconn have partnered to establish a semiconductor assembly and test facility in Uttar Pradesh, with a Cabinet-approved investment of Rs 3,706 crore. This plant will produce 20,000 wafers monthly, creating over 3,500 jobs and supporting sectors like consumer electronics and automotive. The initiative aims to bolster India's semiconductor capabilities, with Foxconn emphasizing local development and talent nurturing. It signifies a significant step in advancing India's semiconductor infrastructure under its Semiconductor Mission.
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HCL-Foxconn OSAT JV begins scouting for EPC partners
Economic Times
·
4m ago
Medial
The HCL-Foxconn joint venture is in talks with Larsen & Toubro and Taiwanese firm CTCI to select an EPC partner for its upcoming OSAT facility. Seeking Cabinet approval by month-end, the JV plans India's first such facility in Uttar Pradesh. Foxconn invests $37.2 million for a 40% equity stake. The facility's location was adjusted to a plot on the main road near Jewar airport, easing accessibility for future operations.
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Union Cabinet Approves India’s Sixth Chip Unit Worth Rs 3,700 cr
OutlookIndia
·
2m ago
Medial
The Indian Union Cabinet approved the establishment of a sixth semiconductor unit under the India Semiconductor Mission, valued at Rs 3,700 crore. A joint venture between HCL and Foxconn will build it near Jewar airport, producing display driver chips for various electronic devices. This development marks a strategic milestone in India's semiconductor industry, enhancing its capability and aligning with the "Make in India" initiative, as demand for such chips is expected to grow significantly.
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Government set to clear next set of chip proposals under Semicon Mission
Economic Times
·
5m ago
Medial
The Indian government is finalizing the approval of new semiconductor project proposals under the India Semiconductor Mission. Projects from notable groups, including an HCL-Foxconn joint venture and the Hiranandani group's Tarq Semiconductors, are set to receive remaining funds from the Rs 76,000 crore initial outlay. Future phases are planned as current funds deplete. India aims to boost its semiconductor manufacturing capabilities, with ongoing projects attracting significant investments and potentially large-scale chip production.
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Cabinet approves Rs 3,706 Cr HCL-Foxconn display chip plant to be set up in UP
YourStory
·
2m ago
Medial
The Union Cabinet approved a Rs 3,706 crore semiconductor plant in Jewar, Uttar Pradesh, by the HCL-Foxconn joint venture, to produce display driver chips for devices like mobile phones and laptops. The plant will process 20,000 wafers monthly, generating 3.6 crore chips. Expected to be operational by 2027, it aims to create 2,000 jobs and bolster India's electronics manufacturing, potentially leading to further investments in display panel production.
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Foxconn India revenue rises to over $20 billion, employee count up at around 80,000
Economic Times
·
3m ago
Medial
Foxconn's revenue in India more than doubled to exceed $20 billion in the financial year 2024-25, driven by increased iPhone production. The company's workforce in India grew by over 65% to around 80,000 employees. Foxconn plans further expansion, including a new facility in Bangalore and a manufacturing unit in Uttar Pradesh, potentially creating thousands of jobs. Additionally, it has started producing AirPods for export and is investing in a semiconductor joint venture with HCL.
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Foxconn to partner with India's HCL Group for chip testing plant
Reuters
·
1y ago
Medial
Taiwan's Foxconn will collaborate with HCL Group to establish a semiconductor assembly and testing facility in India. The outsourced assembly and testing (OSAT) unit will aid in packaging, assembling, and testing foundry-made silicon wafers to produce finished semiconductor chips. Foxconn's Indian unit will hold a 40% stake in the joint venture, with an investment of $37.2 million. The companies aim to bolster the domestic industry's supply chain and resilience through this partnership. The location of the project has not been disclosed.
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Tower's plan for first Indian chip foundry likely to get nod today
Economic Times
·
1y ago
Medial
The Indian Cabinet is expected to approve incentives for Israeli semiconductor company Tower's proposal to establish a chip fabrication unit in India. This marks the country's first pure-play chip foundry project, estimated at $9-10 billion. The government will subsidize 50% of the investment under the Indian Semiconductor Mission, with additional subsidies from states. Proposals for outsourced assembly and testing (OSAT) units by HCL Group-Foxconn Group and the Tata group are also likely to be approved. The investments aim to bolster India's semiconductor manufacturing and fabrication ecosystem.
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