CG Power and Industrial Solutions along with its joint venture (JV) partners will invest Rs 7,600 crore over five years to set up a semiconductor facility in Sanand, Gujarat. The facility will be financed through a mix of subsidies, equity and potential bank borrowings as required.
CG Power will build an outsourced semiconductor assembly and test (OSAT) facility in partnership with Renesas Electronics Corporation, a supplier of semiconductor solutions, and Stars Microelectronics, a Thailand-based supplier of OSAT technology. The facility in Sanand will have a capacity of 15 million units per day.
The JV will be 92.3 percent owned by CG and Renesas and Stars Microelectronics will each hold equity capital of approx. 6.8 percent and 0.9 percent.