RRP Electronics has tied up with a consortium of European companies to set up a one-of-its-kind semiconductor facility in Maharashtra.
The company, which will invest ₹5,000 crore over the next five years, plans to lay the foundation stone in its new premises of 25,000 sq ft on March 23.
In the second phase, it will invest another ₹5,000 crore.
RRP Electronics will fast-track the work on the project and commence the Outsourced Semiconductor Assembly and Testing (OSAT) with adequate support of technology partners.
The facility will also have R&D centre to incorporate the latest developments in the field.
The company will also seek support from the Maharashtra Government to set up the unit comprising multi lines of OSAT fab foundry and manufacturing.
The new facility will tap opportunities in sectors such as automobiles, power, electronics and various other industries.