Mumbai, March 1 -- CG Power & Industrial Solutions (CG) and the Murugappa Group; Renesas

Electronics Corporation, a premier supplier of advanced semiconductor solutions; and Stars Microelectronics (Thailand) Public Co. (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 29 February 2024.

The JV will be 92.3% owned by CG, with Renesas and Stars Microelectronics each holding equity capital of approximately 6.8% and 0.9%, resp...