Greater Noida, Jun 11 (KNN) The Yamuna Expressway Industrial Development Authority (YEIDA) has issued a letter of intent for the establishment of a second semiconductor unit in the region.
On Tuesday, YEIDA CEO Dr. Arunveer Singh handed over the letter to Sanjay Viswanathan, Chairman of Addict Semiconductor Pvt. Ltd., for 12 acres of land in Sector 10.
The company plans to invest ₹3,000 crore in the YEIDA region and aims to create employment for 1,800 individuals.
The unit will manufacture sensor fabs, with an estimated annual production of Rs 25 crore worth of sensors.
The proposal will now be sent to the state and central governments for final approval.
YEIDA is developing the area as a semiconductor manufacturing hub. After Vama Sundari Investments, Addict Semiconductor becomes the second company to plan a unit in the region.
A recent meeting chaired by Chief Secretary Manoj Kumar Singh approved the proposal, and the letter of intent was subsequently issued.
Addict Semiconductor will collaborate with U.S.-based ISMC company for this initiative. The plant will also support aerospace and defense chip manufacturing.
Additionally, the region will house facilities for aircraft maintenance, repair, and overhaul (MRO), promoting the aviation industry.
Once approved, the unit will receive government incentives and concessions under the state’s industrial policy.
The project marks a significant step towards making India self-reliant in semiconductor and defense chip manufacturing.
(KNN Bureau)
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