FOXCONN-HCL GROUP JV WILL SET UP ASSEMBLY PLANT IN UP NEAR JEWAR AIRPORT

The Yamuna Expressway Industrial Development Authority (YEIDA) has allocated approximately thirty acres of land to the joint venture between Foxconn, a Taiwanese company, and HCL Group, an IT services major, for the establishment of a semiconductor outsourced assembly and testing (OSAT) unit.

The land is situated near the upcoming Jewar airport in Noida, Uttar Pradesh. In the joint venture, Foxconn holds a 40% equity stake and is expected to invest $37.2 million. The majority partner, HCL Group, has been given the authority to choose the location of the unit.

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