Minda Corporation and the RP Sanjiv Goenka Group will invest approximately Rs 3,500 crore in the Yamuna Expressway Industrial Development Authority (YEIDA). This will provide direct employment to around 3,500 young people. Minda Corporation will manufacture wiring harnesses, while the RP Sanjiv Goenka Group will establish a solar cell and ecosystem. YEIDA has issued letters of intent to both companies for the land allotment.
Minda Corporation Ltd. and the RP-Sanjiv Goenka Group have submitted investment proposals to the Yamuna Expressway Industrial Development Authority (YEIDA), pledging a combined investment of approximately Rs 3,500 crore. These projects are expected to create direct employment for about 3,500 people. On Wednesday, YEIDA issued Letters of Intent (LOIs) to both companies for land allotment.
Minda Corporation plans to establish a facility in the YEIDA region to manufacture wiring harnesses, clusters, sensors, and connectors. The company aims to enhance harness design and boost productivity through cost-effective engineering.
According to YEIDA CEO Rakesh Kumar Singh, Minda’s project will involve an investment of over Rs 500 crore, with Rs 250 crore allocated for plant and machinery. The company has received in-principle approval for the allotment of 22 acres of land in Sector 10. The facility is projected to provide direct employment to 2,200 people and indirect employment to more than 5,000.
Meanwhile, the RP-Sanjiv Goenka Group will develop a 3-gigawatt capacity solar cell manufacturing plant and an integrated solar ecosystem. The project, which includes a 60-megawatt captive solar and energy storage unit, represents an investment of approximately Rs 3,000 crore.
The company plans to produce high-efficiency cells (28-30 per cent) that could reduce electricity costs by 10 to 15 percent. This initiative is expected to generate 1,200 direct and 4,000 indirect jobs. YEIDA has issued an LOI to the group for 100 acres of land in Sector-8D for the project.
