NXP Semiconductors
NXP Semiconductors eye new plant in Greater Noida
Dutch chipmaker NXP Semiconductors is currently searching for land in India's Greater Noida to set up its second research and development facility in the country.
Government sources told Moneycontrol that the company’s senior management is actively engaged with officials from the Yamuna Expressway Industrial Development Authority (YEIDA) to acquire land in Sector 10 in the YEIDA region of Greater Noida, Uttar Pradesh, for R&D, system innovation, and lab infrastructure.
According to reports, company's CEO Kurt Sievers, who is eyeing an expansion plan, met UP chief minister Yogi Adityanath during the Semicon event and followed up with discussions in October, reflecting an intent to enhance its reach in the South Asian country.
“After meetings with YEIDA officials and encouragement from the Uttar Pradesh government at Semicon India 2024, NXP decided to pursue this opportunity,” a source told Moneycontrol, requesting anonymity.
Cabinet's UP plan
The Union Cabinet, earlier this month, approved the setting up of a Rs.3,700 crore semiconductor manufacturing facility close to Uttar Pradesh's Jewar town.
The facility is a joint venture between tech majors HCL and Foxconn.
This is the sixth semiconductor unit that will be set up in India.
In a statement, the Union Cabinet said: "HCL has a long history of developing and manufacturing hardware. Foxconn is a global major in electronics manufacturing. Together they will set up a plant near Jewar airport in Yamuna Expressway Industrial Development Authority or YEIDA."
This plant will manufacture display driver chips for mobile phones, laptops, automobiles, PCs, and myriad of other devices that have display.
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