Cabinet approves Rs 3,706 crore HCL-Foxconn semiconductor unit

New Delhi: The Union Cabinet on Wednesday approved the setting up of a new semiconductor plant with an investment of Rs 3,706 crore near the upcoming Noida International Airport at Jewar in Uttar Pradesh. The project will be a joint venture between HCL Group and Taiwanese electronics giant Foxconn and will have a capacity to produce 3.6 crore chips per month.