Noida's Yamuna Expressway attracts big-ticket investments after HCL-Foxconn chip plant gets nod

The Cabinet’s recent approval for the HCL-Foxconn semiconductor manufacturing unit has given fresh momentum to the ambitious plan of transforming the Yamuna Expressway region into a major industrial and electronics manufacturing hub.

The region, developing rapidly as an extension of Noida, is anchored around the upcoming Noida International Airport and is now set to attract investments totalling over Rs 12,000 crore from eight companies under the Yamuna Expressway Industrial Development Authority’s (YEIDA) FDI and Fortune 500 policy, TOI reported.

The green light, granted on May 14, clears the way for the HCL-Foxconn joint venture to build a Rs 3,706-crore facility across 48 acres in Sector 28. The unit will produce display driver chips used in mobile phones, laptops, cars, PCs and a wide range of other devices. Once operational, it will become India’s sixth semiconductor and testing unit, adding critical capacity to the country’s fledgling chip manufacturing ecosystem.

The industrial corridor is witnessing a surge in proposals from major domestic and international firms. Among the largest is a Rs 4,500-crore plant by Escorts Group, which, in collaboration with Japan’s Kubota Corporation, aims to manufacture tractor parts and engines on a 200-acre site in Sector 10.

A Rs 1,080-crore ready-made garments and accessories unit by Pine Valley Ventures Pvt Ltd is also in the pipeline for a 20-acre plot in the same sector.

According to TOI, three companies have already been allotted land. One of them, Fuji Silvertech Concrete Pvt Ltd, an Indo-Japanese joint venture, is setting up a Rs 345-crore precast concrete product manufacturing unit in Sector 32. Approved under the state’s new FDI policy last November, this facility is expected to generate nearly 5,844 jobs.

Another project gaining traction is TI Medical Private Limited, a Rs 211-crore joint venture between the Murugappa Group’s Tube Investments of India (TII) and Premji Invest. The firm has secured 11 acres in Sector 28’s Medical Device Park and will produce dialysis machines, dialysers and anaesthesia kits.

Automotive components major Minda Corporation Limited, working with Korea’s Daesung and Indian startup Loconav, has been allotted 22 acres in Sector 24 to manufacture ignition switches and steering locks. This Rs 524-crore project is estimated to create 2,275 jobs. The company has also submitted a proposal for a second Rs 508-crore facility on 10 acres in Sector 10 for making wire harnesses and other parts, as per TOI.

In the consumer electronics space, Havells India Ltd is eyeing a Rs 800-crore investment to manufacture fans, air conditioners, lighting, switchgear and cables. It has sought 50 acres in Sector 28 under the Electronics Manufacturing Cluster (EMC 2.0) scheme. Per TOI, Havells is expected to be the anchor investor for a new 206-acre electronics cluster approved by the Centre last month. The cluster will feature flatted factory complexes, modern infrastructure and dedicated zones for electronics units.

Medical device maker Poly Medicure Ltd is another entrant, planning to invest Rs 150 crore for a unit on seven acres in the Medical Device Park.

YEIDA officials noted that the investments, once operational, will create over 22,000 jobs and significantly bolster the region’s position as a manufacturing powerhouse in north India.