India Post Daily
Buisness

What is the Murugappa Group and how will it help India’s semiconductor industry?

<p>Within two to three years, the Gujarat-based facility of the industrial behemoth CG Semi Pvt. Ltd., a semiconductor manufacturer owned by the Murugappa Group, is expected to begin production. A senior representative of its parent firm issued a statement, making the news official.</p>
<p><img decoding=”async” class=”alignnone wp-image-508670″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-what-is-the-murugappa-group-and-how-will-it-help-indias-semiconductor-industry-sem-750×422.jpg” alt=”theindiaprint.com what is the murugappa group and how will it help indias semiconductor industry sem” width=”1529″ height=”860″ title=”What is the Murugappa Group and how will it help India's semiconductor industry? 9″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-what-is-the-murugappa-group-and-how-will-it-help-indias-semiconductor-industry-sem-750×422.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-what-is-the-murugappa-group-and-how-will-it-help-indias-semiconductor-industry-sem-1024×576.jpg 1024w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-what-is-the-murugappa-group-and-how-will-it-help-indias-semiconductor-industry-sem-768×432.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-what-is-the-murugappa-group-and-how-will-it-help-indias-semiconductor-industry-sem-390×220.jpg 390w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-what-is-the-murugappa-group-and-how-will-it-help-indias-semiconductor-industry-sem.jpg 1200w” sizes=”(max-width: 1529px) 100vw, 1529px” /></p>
<p>The parent company of CG Semi, S. Vellayan, stated in a statement: “We want to construct a world-class OSAT (outsourced semiconductor assembly and testing) facility in Sanand. We are really eager to create India’s semiconductor ecosystem. We want to start producing within the next two to three years.</p>
<p>He went on, “It is imperative that we establish a semiconductor cluster in a concentrated area like that of global leaders like Taiwan if India is to become a genuinely global player in the semiconductor industry. Gujarat is starting to emerge as this cluster, as shown by the announcement of a few facilities there.</p>
<p>Virtually on Wednesday, March 13, PM Narendra Modi laid the foundation stone for the CG Semi facility in Sanand. With a five-year investment of Rs 7,600 crore, this facility would be built on a 28-acre plot of land.</p>
<p>With the ability to increase output to 1.5 crore units per day, this plant will produce a broad range of goods for the automotive, consumer, industrial, 5G, and other sectors.</p>
<p>Renesas Electronics Corporation (6.76 percent), Stars Microelectronics (Thailand) Public Co. Ltd. (0.90 percent), and CG Power (92.34 percent) are the three partners of CG Semi.</p>
<p>According to the agreement, which was previously published, CG Power, Renesas, and Stars are to contribute in one or more tranches, subject to the fulfillment of prerequisite criteria, up to USD 205 million, USD 15 million, and USD 2 million, respectively, towards the equity capital of CG Semi.</p>

Related posts

10 films for just Rs. 699! PVR INOX Launches Subscription Pass Available Monthly

cradmin

The Q4 PAT reported by Torrent Pharma was 287 crore rupees

cradmin

SBI Secures $1 Billion From International Market To Serve ESG Financing Sector

cradmin