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Renesas teams for OSAT packaging plant in India Business news | March 1, 2024 Renesas Electronics is working with CG Power and Industrial Solutions and Stars Microelectronics to build an outsourced Outsourced Semiconductor Assembly…

Renesas teams for OSAT packaging plant in India

Business news
|
March 1, 2024
By
Nick Flaherty

Renesas Electronics is working with CG Power and Industrial Solutions and Stars Microelectronics to build an outsourced Outsourced Semiconductor Assembly and Test (OSAT) plant in India.

CG Power and Industrial Solutions is a long established manufacturer in India, and will work with Stars Microelectronics of Thailand and Renesas on the joint venture which was approved yesterday by the Indian government.

The JV will set up the plant in Sanand, Gujarat, with a capacity that will ramp up to 15 million units per day. The JV will manufacture a wide range of products – ranging from legacy packages such as QFN and QFP to advanced packages such as FC BGA, and FC CSP for the automotive, consumer, industrial and 5G markets.

 CG is part of Tube Investments of India and the Murugappa Group and will own 92.3% of the venture with a total investment of INR7600 cores (US$227m)

Renesas will own 6.8% and Stars, which will provide both technology for legacy packages and training and enablement, will own 0.9%. It will be financed through a mix of subsidies, equity, and potential bank borrowings as required.

 “CG’s entry into the semiconductor manufacturing marks a strategic diversification for us. Our partners, Renesas and Stars Microelectronics, will make our learning curves steeper and help us focus on innovation and excellence. This is a very exciting phase for the entire nation, and we are very keen to build out India’s semiconductor capability and ecosystem,” said S. Vellayan, Chairman, CG Power and Industrial Solutions.

 “India is a critical part of Renesas’ business. We value its innovative landscape and robust potential growth and are committed to accelerating our investment in India. By partnering with the Murugappa Group and Stars Microelectronics, we will bolster India’s semiconductor ecosystem and address the growing semiconductor demand for the customers worldwide,” said Hidetoshi Shibata, CEO of Renesas.

 www.murugappa.com; www.renesas.com

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