HCL-Foxconn seeks EPC partners for Uttar Pradesh facility

HCL and Foxconn are looking for partners to help build a new semiconductor facility in India. They are in talks with companies like Larsen & Toubro (L&T) and Taiwan's CTCI for engineering, procurement, and construction (EPC) support. Foxconn's president of the semiconductor group, Bob Chen, recently visited India to discuss this project. The discussions took place in Gujarat and focused on finding a suitable partner for the upcoming outsourced semiconductor assembly and testing (OSAT) unit. This facility, expected to be located in Uttar Pradesh, requires approval from the Indian Cabinet. HCL and Foxconn hope to get that approval soon. Foxconn plans to invest about $37.2 million and will hold a 40% stake in the joint venture. L&T is a well-known Indian company that handles large projects and has a presence in several countries. CTCI, based in Taiwan, has experience in various sectors and has worked with Foxconn before on projects in India. Originally, the joint venture was given land to set up the OSAT unit near the Jewar airport in Noida. However, they have recently been allocated a new plot closer to a main road, making it more accessible.