Govt approves Rs 3,706 crore HCL-Foxconn semiconductor joint venture

New Delhi: The government on Wednesday approved an HCL-Foxconn semiconductor joint venture, which will set up a wafers manufacturing plant at an estimated cost of Rs 3,706 crore at Jewar in Uttar Pradesh.

The proposed HCL-Foxconn semiconductor plant will manufacture display driver chips for mobile



phones, laptops, automobiles, and other devices, said I&B Minister Ashwini Vaishnaw while briefing the media on the decision taken by the Union Cabinet.

The unit will process 20,000 wafers per month and create about 2,000 jobs, a release said.