CG Power and Industrial Solutions Limited has submitted an application to the Ministry of Electronics and Information Technology (MeitY), Government of India. The company is seeking approval to establish an Outsourced Semiconductor Assembly and Test (OSAT) facility and to secure a subsidy for the project under the Modified Scheme for setting up Compound Semiconductors/Silicon Photonics/Sensors Fab/Discrete Semiconductors Fab and Semiconductor Assembly, Testing, Marking, and Packaging (ATMP)/Outsourced Semiconductor Assembly and Test (OSAT) facilities in India.
Joint Venture Plans with Technology Providers/Anchor Customers
The company has indicated that, pending approval of the project and subsidy, it intends to implement the initiative as a Joint Venture in collaboration with technology providers and anchor customers, currently under discussion.
Projected Investment and Funding Structure
The estimated investment for the project over a five-year period is USD 791 million. The funding is anticipated to come from a combination of subsidies, equity contributions from Joint Venture partners, and debt as required.
Read About – Outsourced Semiconductor Assembly And Test (OSAT)
About CG Power and Industrial Solutions
CG is an engineering conglomerate boasting a diverse portfolio of products, solutions, and services for power and industrial equipment. Established in India in 1937, the company has been a pioneer, maintaining a leadership position in the management and application of electrical energy.
Enjoying a reputation of stature for over seven decades, CG, which originates in India, has transformed itself into a global corporation. With a permanent footprint and manufacturing facilities in nine countries across Asia, Europe and North America, CG is fast emerging as a first choice supplier of high quality, “smart” electrical, industrial and consumer products and solutions all over the world.
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