3 tech majors to set up units on 120 acres, invest 4k cr off eway
Noida: Yamuna Expressway Industrial Development Authority (YEIDA) has issued letters of intent to three companies for setting up manufacturing units near the upcoming Noida International Airport, marking a combined investment of around Rs 4,000 crore.
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Two of these companies will be allotted land in the upcoming Electronics Manufacturing Cluster (EMC) 2.0 in Sector 10, which spans 206 acres.
Ascent-K Circuit will receive 16 acres to manufacture high-end printed circuit boards (PCBs), including HDI, flex, multilayer types, and semiconductor substrates, while Aurionpro ToshiAutomatic Systems, which specialises in industrial automation and smart transit and mobility solutions, will be allotted five acres as a member of a Special Purpose Vehicle (SPV) under the central govt's EMC 2.0 scheme.
Both units will be a part of the cluster approved by the ministry of electronics and information technology (MeitY), with Havells India Ltd, the anchor investor, already securing an allotment of 50 acres.
The EMC 2.0 project received in-principle approval from MeitY in April this year.
Amber Enterprises India Ltd, of which Ascent is a part, will be allotted another 100 acres in Sector 8 to manufacture copper-clad laminates, PCB assemblies, consumer electronics, and home appliances.
Amber and Ascent together are expected to invest around Rs 4,000 crore across the two projects.
Ascent is also expected to form a joint venture with some Korean firms for the PCB manufacturing venture.
YEIDA CEO Arun Vir Singh confirmed that the land allotments are subject to approval by the Invest UP empowered committee and state policy guidelines. "Land acquisition is underway in Sector 8 and the LoI for the 100-acre plot, along with others, is provisional, pending regulatory clearances," he added.
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These companies are the latest in a growing list of firms investing in the YEIDA region near the Noida International Airport. At least eight companies have announced plans to invest nearly Rs 12,000 crore in the region, driven by the dedicated industrial parks and state's FDI and Fortune 500 investment policies.
Among those that have already secured land allotments is Fuji Silvertech Concrete Pvt Ltd, an Indo-Japanese joint venture, which is setting up a precast concrete product manufacturing unit on 20 acres in Sector 32.
It was the first company to be allotted land under Uttar Pradesh's new FDI policy announced in November 2023.
TI Medical Private Limited, a joint venture between the Fortune India 500-listed Tube Investments of India (TII) of the Murugappa Group and Premji Invest, has secured an 11-acre plot in the Medical Device Park in Sector 28. Minda Corporation Limited, in partnership with Korea's Daesung and India's Loconav, has been allotted 22 acres in Sector 24 to produce ignition switches and steering locks for automobiles.
Additionally, Minda has proposed a separate project in Sector 10 to manufacture wire harnesses and other automotive components on 10 acres, which has been approved by the state's empowered committee.
Vama Sundari Investments Pvt Ltd, part of the HCL Group, is collaborating with Taiwanese electronics major Foxconn to establish a semiconductor manufacturing facility on 48 acres in Sector 28. Escorts, in a joint venture with Japan's Kubota Corporation, plans to build a large tractor manufacturing plant on 200 acres in Sector 10.
Another major investment comes from Pine Valley Ventures Pvt Ltd, which aims to set up a readymade garments and accessories unit on a 20-acre plot in Sector 10. Poly Medicure Ltd has also applied for 7 acres in Sector 28's Medical Device Park to set up a medical equipment manufacturing unit.
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