- investment in this project is $791 million
- CG Power is earmarking around Rs 155 crore to expand manufacturing capacity
CG Power and Industrial Solutions has recently filed documents to set up an Outsourced Semiconductor Assembly and Test (OSAT) facility in India with the Ministry of Electronics and Information Technology (MeitY), Government of India.
The application has urged the government to provide 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.
The company shared that the approx. investment in this project is $791 million in five years. The company is expecting to be funded by a combination of subsidy, JV Partners equity contribution and debt.
In October, CG Power and Industrial Solutions announced its intention to invest approximately Rs 347 crore, which includes ongoing projects, to enhance the capabilities of its various facilities. CG Power is earmarking around Rs 155 crore to expand manufacturing capacity in its Switchgears Division complex in Nashik. This expansion will encompass instrument transformers, condenser bushings, medium voltage switchgear, and GIS units. Additionally, the company plans to increase the manufacturing capacity of large industrial machine (LIM) units in Mandideep, Bhopal, and further enhance the capacity of power transformers (T3 unit) in Bhopal.
