CG Power, with joint venture partners Renesas Electronics and Stars Microelectronics, will invest Rs 7,600 crore over five years in a semiconductor facility in Sanand, Gujarat. The project, approved by the Union Cabinet under India’s semiconductor manufacturing subsidy scheme, will involve a mix of subsidies, equity, and potential bank borrowings. The joint venture, with CG Power holding 92.3%, aims to build an outsourced semiconductor assembly and test (OSAT) facility, with a daily capacity of 15 million units. The facility will contribute to India’s semiconductor manufacturing capabilities and address growing demand for electronic components.
CG Power and Partners to Invest Rs 7,600 Crore in Gujarat Semiconductor Facility
![](https://affairsace-media.s3.ap-south-1.amazonaws.com/2024/03/01193019/1632288855-1147-ezgif.com-avif-to-jpg-converter.jpg)