CG Power & Industrial Solutions had earlier announced that with respect to setting up of an Outsourced Semiconductor Assembly and Test (OSAT) facility and the grant of subsidy for the said project under the Modified scheme for setting up of Compound Semiconductors / Silicon Photonics / Sensors Fab/ Discrete Semiconductors Fab and Semiconductor Assembly, Testing, Marking and Packaging (ATMP)/ Outsourced Semiconductor Assembly and Test (OSAT) facilities in India, the India Semiconductor Mission (ISM) under the Ministry of Electronics and Information Technology, Government of India (MeitY) had approved the grant of subsidy/fiscal support towards capex, of up to Rs. 3,501 crores, subject to the execution of Fiscal Support Agreement.
Now, CG Power & Industrial Solutions, India Semiconductor Mission and CG Semi (subsidiary company/ project company incorporated for setting up the OSAT facility) has today, 17 January 2025 entered into the fiscal support agreement.