HCL Technologies eyeing to double its semiconductor service business

As per news source, a senior company official said that HCL Technologies in three to four years is targeting to double its semiconductor services business following capabilities that it will develop around electronic chip plants to be set by its group firm.

Under the "Scheme for Compound Semiconductors" HCL Group has applied to set up electronic chip plants and HCL Technologies will assist HCL Corporate in end-to-end processing of chips.

"One of the focus sectors for HCL Technologies, especially in engineering services is semi chip. Our plan is to double our business. There is an internal plan to do it in a period of three to four years. I say only three to four because it is ongoing and we see demand enough to do that," HCL Technologies Executive Vice President and BU Head Ameer Saithu told the news source.

He said that HCL Group's semiconductor wafer fab can be built in about 18-24 months time from the date the government approves its application.

"We are ready with funds. Just to be clear, again, it is happening from HCL Corporate. From my perspective, which is HCL Tech, we are interested in developing capabilities in that space and we see that as a very big opportunity," he said.