The Cabinet on Thursday cleared two projects, the Tata's assembly testing and packaging plant (ATMP) and the Murugappa-owned CG Power with Renesas from Japan as its tech partner.
These, together with Micron's assembly and testing plant which is already being constructed in Sanad in Gujarat, will collectively invest ₹47,300 crore to set up the factories.
Others waiting for clearance from the government are an outsourced semiconductor assembly and testing (OSAT) plant by HCL, which has signed a joint venture with Foxconn, where it has a 40 per cent stake, and another by the Hiranandani Group under Tarq Semiconductors, and Kaynes Technology, with an investment of ₹2,800 crore. Under the semicon scheme, 50 per cent of this cost will be given as subsidy by the central government, while state government subsidies could contribute another 20-25 per cent.
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