Company and Project Overview:

 CG Power and Industrial Solutions have applied to the Ministry of Electronics & Information Technology (MeitY) to establish an Outsourced Semiconductor Assembly and Test (OSAT) facility in India.

Investment Details:

 The estimated investment for the project over five years is $791 million (Rs 6,592 crore). The funding is expected to come from a combination of subsidy, joint venture (JV) partners' equity contribution, and debt.

Implementation Plan:

 Subject to project and subsidy approval, CG Power plans to implement the project as a joint venture in partnership with technology providers or anchor customers. Discussions with potential partners are underway.

Previous Investment Announcement:

 In October, CG Power and Industrial Solutions announced a separate investment of about Rs 347 crore for capacity expansion in various units. This includes expanding manufacturing capacity for instrument transformers, condenser bushings, medium voltage switchgear, and GIS units in Nashik.

Additional Expansion Plans: 

The company also revealed plans to expand the manufacturing capacity of large industrial machine (LIM) units in Mandideep, Bhopal. The proposed expansion aims to increase the LIM capacity from 1,002 units per annum to 1,728 units per annum.

Overall, CG Power is actively investing in expanding its capacities and diversifying its operations, with a significant focus on semiconductor assembly and testing in this latest development.

curtesy  by : The Economic Times