In the past three sessions, the shares of the Murugappa Group Company have grown by 12%. The purchase action was accompanied by strong volumes, because more than 65 Lakh shares the NSE changed ownership around 1:30 PM.
CG Power has announced plans to invest in RS 7,600 crore ($ 870 million) in its new factory in the next five years.
The investment is supported by supporting the central and national government and comes in collaboration with global partners Renesas and Stars Microelectronics.
The funds will be used to develop two advanced OSAT facilities, G1 and G2, in Sanand.
The company claimed that this project is an important step to strengthen the ecosystem of the semiconductor production of India and to promote the technological self-reliance of the country. The G1 facility, inaugurated last week, will work with a peak capacity of approximately 0.5 million units per day. It is designed for extensive chip assembly, packaging, testing and post-test services. Sent with high-interest equipment, an advanced production execution system (knife) for automation and traceability, and internal laboratories for reliability analysis, the facility is currently undergoing ISO 9001 and IATF 16949 certification. The commercial production is planned to start in the calendar year 2026, after the customer’s qualification.
The G2 facility, located approximately 3 km from G1, is under construction and is expected to be completed at the end of 2026. Once operational, it will scale up production considerably to 14.5 million units a day. Combined, the two facilities are expected to create more than 5,000 direct and indirect jobs in the coming years.
During the launch, Vellayan Subbiah, chairman of CG Power, said: “This facility represents more than a milestone for me or for CG Semi; it is a national milestone. It shows how the government and industry come together with conviction, capital and scale to reach the vision that has been taught by our honorable prime minister.
To support the activities, CG Semi has put together a team of industrial veterans with more than 1000 years of combined experience in semiconductors. It has also invested in personnel development by sending Indian engineers, operators and technicians to Malaysia for Hands-on Training, which guarantees readyness for high-volume activities.
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Shares of CG Power have set 26% in the last 6 months, while the returns of the shares have been around 8% in the last 12 months.
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