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SK hynix denies any plans for India

South Korea-based SK Hynix on Monday said that the company neither had any negotiation with SRAM & MRAM Group, nor has any plans to collaborate with it for a semiconductor manufacturing or testing unit in India.

UK-based SRAM & MRAM Group chairman Sailesh Lachu Hiranandani had told PTI that his company is in an advanced stage of discussion with semiconductor makers SK Hynix and GlobalFoundries to collaborate for its proposed chip manufacturing plant and a testing facility in India.

Hiranandani had said that his group will hold a majority stake in the joint venture and the application to seek the Centre’s approval for the project will be submitted within a week.

However, SK Hynix denied any negotiation, collaboration with SRAM & MRAM Group.

“SK Hynix haven’t had any negotiations with SRAM & MRAM Group and therefore, do not have any plans to collaborate with the company on a chip manufacturing plant and testing facility in India,” SK Hynix said in a statement.

SK Hynix is among the top three global memory or storage semiconductor companies.

SRAM & MRAM Group has proposed to set up a semiconductor manufacturing plant and a testing unit in Odisha. Hiranandani had said that the group had received state government approval for the project.

The group in a statement issued in April had announced to set-up Rs 2 lakh crore to set up a semiconductor unit in Odisha with an initial investment of Rs 30,000 crore.

Hiranandani had said that his organisation is also in touch with GlobalFoundries to onboard it as technical partner for the chip plant.

GlobalFoundries makes chips and its customers include Qualcomm, MediaTek, NXP etc. PTI

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