CG Power announces JV in semiconductors manufacturing with 2 foreign firms

Murugappa Group entity CG Power and Industrial on Thursday announced teaming up with Renesas Electronics America and Stars Microelectronics (Thailand) to set up an outsourced semiconductor assembly and testing (OSAT) facility in India.

As a part of the joint venture (JV), CG Power and Industrial has signed agreements on Technology and Services, and offtake and manufacturing agreement with Renesas Electronics Corporation, Japan, according to the filing.

It has also signed a technology know-how sharing and technical support agreement with Stars. b