South Korea-based SK Hynix said Monday that the company has not entered into any negotiations with SRAM nor with SRAM. MRAM Group also has no plans to work with her for a semiconductor manufacturing or test unit in India.
SRAM & Sailesh Lachu Hiranandani, Chairman of the MRAM Group, has informed PTI that his company is in an advanced stage of negotiations with semiconductor manufacturers SK Hynix and GlobalFoundries for a cooperation for the planned chip production facility and a test facility in India.
Hiranandani had said his group would hold a majority stake in the joint venture and the center’s application for the project’s approval would be submitted within a week.
However, SK Hynix denied any negotiations and cooperation with SRAM & MRAM Group.
“SK Hynix has not entered into negotiations with SRAM & MRAM Group and as such has no plans to work with the company on a chip manufacturing facility and test facility in India,” SK Hynix said in a statement.
SK Hynix is one of the world’s top three memory and memory semiconductor companies.
SRAM & MRAM Group has proposed to establish a semiconductor manufacturing facility and test unit in Odisha. Hiranandani had said the group had received state government approval for the project.
The group had announced in a statement released in April that it would allocate Rs. 2 million to set up a semiconductor unit in Odisha, with an initial investment of Rs. 30,000 million.
Hiranandani had said that his organization was also in contact with GlobalFoundries in order to win it over as a technical partner for the chip factory.
GlobalFoundries manufactures chips and its customers include Qualcomm, MediaTek, NXP, etc.
