Betting big on the prospects of the new government's infrastructure development plans, the Jaypee Group has decided to proceed ahead with its ambitious microchip fabrication facility in partnership with International Business Machines (IBM) involving a whopping investment worth Rs. 18,000cr. The Noida-based player engaged in real estate, power and cement, will invest through a group company, Jai prakash Associates Ltd in the first phase and is targeting the Indian electronic market with annual imports to the tune of $20 million. It has identified site in Uttar Pradesh and Madhya Pradesh for setting up the factory and is likely to hold a majority stake in the new venture, said executive chairman Manoj Gaur, adding that his company is keen to make micro-chips, which are currently not been made in India.
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