CG Power and Industrial Solutions Limited, Renesas, and Stars Microelectronics, to Jointly Build Outsourced Semiconductor Assembly and Test Facility in India
RENESAS ELECTRON UNSP/ADR (RNECY)
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Company Research
Source: Business Wire
MUMBAI, India & TOKYO & AYUTTHAYA, Thailand--(BUSINESS WIRE)--CG Power and Industrial Solutions Limited (“CG”), a part of Tube Investments of India Limited and the Murugappa Group; Renesas Electronics Corporation (TSE: 6723, “Renesas”), a premier supplier of advanced semiconductor solutions; and Stars Microelectronics (Thailand) Public Co. Ltd (“Stars Microelectronics”), a Thailand-based Outsourced Semiconductor Assembly and Test (OSAT) provider; had recently signed a Joint Venture Agreement (JVA) to establish a Joint Venture (JV) to build and operate an OSAT facility in India. The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, approved the project of the JV under India’s Semiconductor scheme on February 29, 2024.The JV brings together unique capabilities of the partners with a vision to “Make in India for the World.” CG, with around 86 years of manufacturing expertise, is keen to build semiconductor capabilities and ecosystem in India. Renesas, a leading semiconduct
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