RRP Electronics, an organization backed by former cricketer Sachin Tendulkar, on Tuesday introduced an funding of INR 5,000 crore for a semiconductor facility in Maharashtra. The funding will probably be achieved over the subsequent 5 years, the corporate stated in a press release.
Contributions from Tendulkar within the general funding or particulars of different shareholders weren’t disclosed by the corporate.
The assertion stated on March 23, a 25,000 sq. toes facility within the satellite tv for pc metropolis of Navi Mumbai was unveiled within the presence of Tendulkar, retired nuclear physicist Anil Kakodkar and the corporate’s founder, chairman, promoter and chief government Rajendra Chodankar.
It’s an outsourced semiconductor meeting and take a look at (OSAT) facility and plans are afoot to determine a complete analysis and improvement centre and have an expanded setup encompassing multi-line OSAT and a fab foundry, the assertion stated.
“Embarking on a journey of innovation, RRP Electronics pledges an preliminary funding of INR 5,000 crore over the forthcoming 5 years, with equal vigour and dedication earmarked for part II,” the assertion stated.
It added that authorities subsidies will even be used to enhance the enterprise, which is able to serve sectors resembling automotive, energy, electronics, and industrial markets.
Chodankar referred to as it as Maharashtra’s pioneering semiconductor facility and added that Tendulkar is a “strategic investor” within the firm.
“We stay in thrilling instances as we speak, when India is constructing industries that positively affect the world tomorrow. I am pleased to be backing applied sciences and entrepreneurs who’re a part of this story,” Tendulkar was quoted as saying.
The semiconductors sector is alleged to be capital intensive, and within the latest previous, a number of corporations have introduced investments in such initiatives.
 facility and plans are afoot to establish a comprehensive research and development centre and have an expanded setup encompassing multi-line OSAT and a fab foundry, the statement said.){kind=link}