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Murugappa Group's CG Semi to Revolutionize Semiconductor Production in Gujarat

  • Posted on March 14, 2024
  • Technology
  • By TSW NEWS DESK
  • 69 Views

Murugappa Group's semiconductor venture, CG Semi Pvt Ltd, is gearing up to commence production within 2.5 to 3 years in Gujarat. With a significant investment, this initiative aims to bolster India's semiconductor ecosystem, fostering growth across various industries.

Murugappa Group's CG Semi to Revolutionize Semiconductor Production in Gujarat Image Source -www.timesofindia.indiatimes.com

In a strategic move, CG Semi, a semiconductor company under the esteemed Murugappa Group, is poised to kickstart production within the next 2.5 to 3 years in Gujarat. This development stems from a landmark agreement involving CG Power, Renesas, and Stars, signaling a substantial investment influx into India's burgeoning semiconductor sector.

The chairman of CG Power and Industrial Solutions Ltd, S. Vellayan, expressed strong enthusiasm about nurturing India's semiconductor landscape. Emphasizing the intent to establish a world-class outsourced semiconductor assembly and testing (OSAT) facility in Sanand, Vellayan highlighted the pivotal role such endeavors play in positioning India as a global semiconductor hub. He underlined the importance of clustering semiconductor facilities, drawing parallels with international leaders like Taiwan, and praised Gujarat's potential in this regard.

Prime Minister Narendra Modi laid the foundation stone for CG Semi's factory at Sanand, marking a significant milestone in India's semiconductor journey. This state-of-the-art facility, spanning 28 acres with an investment of Rs 7,600 crore over five years, is poised to cater to diverse sectors, including automotive, consumer electronics, industrial applications, and 5G technology.

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CG Semi's establishment is a collaborative effort, with CG Power holding a majority stake (92.34%), complemented by Renesas Electronics Corporation (6.76%) and Stars Microelectronics (Thailand) Public Co. Ltd (0.90%). The agreement outlines substantial investments, with CG Power, Renesas, and Stars committing USD 205 million, USD 15 million, and USD 2 million, respectively, towards CG Semi's equity capital.

With this ambitious venture, Murugappa Group's CG Semi aims to propel India's semiconductor industry to new heights, fostering innovation, job creation, and economic growth in the region.

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