In line with 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, CG Power and Industrial Solutions Limited has filed an application with the Ministry of Electronics and Information Technology (MeitY), Government of India, seeking approval to establish an Outsourced Semiconductor Assembly and Test (OSAT) facility and the granting of subsidy for the said project.

It should be mentioned that the company plans to implement the project as a joint venture in collaboration with technology providers/anchor customers, which is currently being discussed, provided that the project and the subsidies are accepted.

The estimated investment on the project over a period of five years is USD 791 million and the same is expected to be funded by a combination of subsidy, JV Partners equity contribution and debt, as required.