Hiranandani Group plans Rs 28,440 crore semiconductor project in Noida as UP bags investment worth Rs 69,000 crore

Hiranandani Group Chairman Niranjan Hiranandani at Invest UP roundtable (Source: X)

Real estate conglomerate Hiranandani Group has unveiled a Rs 28,440 crore semiconductor project in Noida, part of a cumulative investment worth around Rs 69,000 crore announced at the Invest UP roundtable, held at Mumbai's Jio World Convention Centre on May 27.

Avaada Group's Vice Chairman Sindoor Mittal announced an investment of Rs 20,000 crore in the solar energy sector, while UltraTech Cement’s Managing Director KC Jhanwar promised to invest Rs 1,981 crore for projects in Aligarh, Shahjahanpur and Tanda.

Tata Power Renewable Energy CEO Sanjay Banga announced plans to set up two 800 MW ultra-supercritical power units in Bundelkhand at a cost of Rs 13,700 crore.

Balrampur Chini Mills signed a Memorandum of Understanding (MoU) with the state government to set up India's first 250 TPD Polylactic Acid (PLA) plant at Kumbhi Chini Mills in Lakhimpur Kheri. The proposed green plant will be built with an investment of Rs 2,850 crore, and is expected to generate 225 jobs. The project is likely to commence operation this month, said Invest UP. "This will be India’s first industrial-scale biopolymer plant that uses sugarcane as a raw material to produce green polymers and will also be the first integrated site in the country where sugarcane is transformed into PLA," Balrampur Chini said.

Balrampur Chini Mills Ltd. takes a major leap towards sustainable innovation by signing an MoU with the Government of Uttar Pradesh to set up Indias first-ever 250 TPD Polylactic Acid (PLA) Plant at Kumbhi Chini Mills, Lakhimpur Kheri. With an investment of 2,850 crore, this pic.twitter.com/0lZwEYrrGw
INVEST UP (@_InvestUP) May 27, 2025

The session, chaired by UP state government's Chief Secretary Manoj Kumar Singh and moderated by Invest UP CEO Vijay Kiran Anand. Invest UP, a newly-created investment promotion and facilitation agency of the state’s government, took to X to share pictures of the roundtable meeting. "The event brought together key industry leaders and policy makers to discuss opportunities in Uttar Pradesh’s rapidly growing investment landscape."

Notably, Maharashtra Chief Minister Devendra Fadnavis too was present at the event. "Their meeting marked a moment of collaboration between two progressive states that are focused on fostering economic growth, policy support and technological innovation," Invest UP said in its X post.

"...industry leaders appreciated Uttar Pradesh’s investor-friendly environment, progressive policies, and efficient single-window clearances. From data centers and cement plants to renewable energy and semiconductors, companies shared success stories and outlined major future investments in the state. The discussions reflected growing industry confidence and reinforced UP’s position as a leading destination for business and growth," Invest UP added.

Notably, Union Cabinet had earlier approved a semiconductor wafer manufacturing plant at a cost of Rs 3,706 crore at Jewar near Noida. The semiconductor production plant will be setup under an HCL-Foxconn semiconductor joint venture.