SK Hynix, located in South Korea, declared on Monday that it has neither entered into negotiations with SRAM & MRAM Group nor planned to do so for an Indian semiconductor testing or manufacturing facility.

Sailesh Lachu Hiranandani, chairman of the UK-based SRAM & MRAM Group, told PTI that his company is in advanced talks to work with semiconductor manufacturers SK Hynix and GlobalFoundries on a proposed chip production factory and testing centre 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.