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CG Power Plans to Build a $791 Million Semiconductor Assembly and Testing Facility in India

Last Updated on 25th June 2024

Murugappa group company, CGPISL (CG Power and Industrial Solutions Limited), stated that it is planning to set up an OSAT (Outsourced Semiconductor Assembly and Test) facility in India. The group will invest around USD 791 million over five years for the said project.

 

Indian Semiconductor Industry

 

CG Power, in a regulatory filing, stated that the company had applied to the MeitY (Ministry of Electronics and Information Technology) seeking approval for the project. The company additionally applied for subsidy support for this project. The project would be implemented through a joint venture in partnership with technology providers and anchor customers.

 

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The establishment of the new OSAT facility will be a significant step forward for CG Power and for the Indian semiconductor industry. The facility will help to reduce India's dependence on imported semiconductors and will create thousands of jobs.

 

Here are some of the benefits of the proposed OSAT facility:

 

  • The facility will help to reduce India's dependence on imported semiconductors by manufacturing semiconductors domestically.
  • It will create thousands of jobs in India.
  • The facility will bring new technology to India and help develop the skills of Indian engineers.
  • It will contribute to India's economic growth by creating a new industry and attracting new investment to the country.

 

The company stated that it will invest around 41 million in its ongoing project for capacity expansion of its various units. It also stated that it is planning to expand the manufacturing capacity of large industrial machine (LIM) units at Mandideep, Bhopal

 

About CG Power

CG Power and Industrial Solutions Limited (formerly Crompton Greaves Limited) is a leading multinational engineering conglomerate with a diversified portfolio of products, solutions, and services in the power and industrial sectors. Established in 1937 in India, CG Power has a strong presence in India and a global footprint with offices in over 25 countries. The company has a rich heritage of innovation and is recognized as a leader in the management and application of electrical energy.

 

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