The Township Group, a Hong Kong-based company, has shifted its ambitious Rs 1.54 lakh crore semiconductor factory project from Agra to the vicinity of Noida International Airport in Jewar due to land availability challenges.
During the Global Investors Summit, Township International Limited, a Hong Kong firm, inked 10 Memorandums of Understanding (MoUs) worth Rs 1.80 lakh crores. One of these MoUs was for a semiconductor factory in Agra with investments ranging from Rs 99.99 crores to Rs 5,400 crores. Unfortunately, the required 1500 acres of land weren’t feasible in Agra, hampering the project’s progress.
Agra District Magistrate, Navneet Singh Chahal, admitted to the impracticality of securing such a vast land parcel in Agra. Meanwhile, Anuj Kumar, Joint Commissioner Industries, explained the lack of suitable land, underlining the potential employment for 65,000 individuals that the project could have generated.
Furthermore, the Township Group partnered with the MSME and Export Promotion Department, signing four MoUs amounting to Rs 6,509 crore. An additional MoU of Rs 246 crore was signed with the Vocational Education and Skill Department.
The Township Group also signed MoUs worth Rs 410 crore and Rs 5,330 crore with the Forest Department and the Handloom and Textile Department, respectively. Additionally, an MoU valued at Rs 8,200 crore was established with the UP State Industrial Development Authority.
Vishal Sharma, Secretary of Agra Tourist Welfare Chamber, emphasized that had the project flourished in Agra, the city could have emerged as a notable hub for India’s semiconductor industry, complementing its vibrant tourism sector.