NewsOrders & DealsFoxconn and HCL Group Name Semiconductor Joint Venture as India Chip Private LimitedFoxconn and HCL Group Name Semiconductor Joint Venture as India Chip Private Limited
Foxconn and HCL Group have officially named their semiconductor joint venture as India Chip Private Limited, with regulatory filings confirming the partnership details. Foxconn has invested ₹312.00 crore for a 40% stake, with potential total investment reaching ₹424.00 crore. The UP government allocated 48 acres through YEIDA for the OSAT facility focused on display driver integrated circuits.
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Electronics manufacturing services giant Foxconn and HCL Group have officially finalized the name of their semiconductor joint venture as India Chip Private Limited, according to regulatory filings released on Wednesday. The announcement confirms details of the partnership that was initially announced on October 1, 2024.
Investment Structure and Financial Details
The joint venture represents a significant investment in India's semiconductor manufacturing capabilities. Foxconn's financial commitment and ownership structure are detailed below:
| Parameter: | Details |
|---|---|
| Foxconn Investment: | ₹312.00 crore |
| Ownership Stake: | 40% |
| Maximum Investment Potential: | ₹424.00 crore |
| Investment Currency: | USD 3,72,00,000 (converted) |
The regulatory filing confirmed that Foxconn has already infused the initial investment amount to secure its 40% stake in India Chip Private Limited, with provisions for additional investment up to the maximum threshold.
Land Allocation and Facility Development
The Uttar Pradesh government has provided substantial support for the joint venture through land allocation. The Yamuna Expressway Industrial Development Authority (YEIDA) has allocated approximately 48 acres of land specifically for the venture's operations.
The facility will focus on outsourced semiconductor assembly and test (OSAT) services, with particular emphasis on display driver integrated circuits. HCL Group submitted the land allocation proposal to the Uttar Pradesh government under the name Vama Sundari to secure the necessary infrastructure for the semiconductor manufacturing operations.
Strategic Partnership Details
The collaboration between Foxconn and HCL Group represents a significant development in India's semiconductor manufacturing landscape. The joint venture structure combines Foxconn's global electronics manufacturing expertise with HCL Group's technology capabilities and local market knowledge.
India Chip Private Limited will operate as an independent entity focused on semiconductor assembly and testing services, positioning itself to serve both domestic and international markets in the growing semiconductor sector.
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