Uttar Pradesh Greenlights Two Semiconductor Projects Worth Rs 32,000 Cr
The strategic location of these semiconductor plants near Jewar International Airport is expected to facilitate efficient supply chains and export logistics
Uttar Pradesh is set to become a semiconductor manufacturing hub with the recent approval of two major semiconductor projects, the state government has approved two semiconductor fabrication projects worth over Rs 32,000 crore.
Led by Tarq Semiconductors, a part of the Hiranandani Group, these initiatives will see investments of approximately Rs 28,440 crore for a semiconductor fabrication plant in the Yamuna Expressway Industrial Development Authority enclave.
The UP cabinet recently cleared a state subsidy of Rs 9,000 crore over the next five years, with Rs 7,037 crore specifically allocated to Tarq Semiconductors. This project will receive a 50 per cent capital subsidy on its total cost, split evenly between the central and state governments.
Anil Kumar Sagar, the principal secretary for industrial development, indicated that additional incentives will follow upon the commencement of commercial production. The Tarq Semiconductors plant alone is expected to create 1,000 direct jobs and an additional 10,000 indirect jobs, marking contribution to regional employment.
The strategic location of these semiconductor plants near Jewar International Airport is expected to facilitate efficient supply chains and export logistics. The government’s plans to high-tech investment are aspired to be fulfilled by this project’s scale and scope, which offers to drive industrial development along the Yamuna Expressway and contribute to India’s ‘Atmanirbhar Bharat’ vision.
