Sachin Tendulkar backs RRP Electronics, announces Rs 5,000 crore investment
Sachin Tendulkar backs RRP Electronics, announces
Rs 5,000 crore investment
News comes to the fore that Sachin Tendulkar who supports RRP Electronics, plans to invest Rs 5,000 crore in a semiconductor facility located in Maharashtra over the next five years.
The company did not disclose specifics regarding Tendulkar’s contribution or other shareholders. The announcement was made on 23 March in the midst of the unveiling of a 25,000 square feet facility in Navi Mumbai.
The event saw the attendance by Sachin Tendulkar, retired nuclear physicist Anil Kakodkar, and the company’s founder, chairman, promoter, and chief executive Rajendra Chodankar.
RRP Electronics intends to expand its operations beyond the OSAT facility by establishing a research and development center and enhancing its setup to include a multi-line OSAT and a fab foundry.
The company stated that embarking on a journey of innovation, RRP Electronics pledges an initial investment of Rs 5,000 crore over the forthcoming five years, with equal vigour and commitment earmarked for phase II.
Plans are a foot by the compan to utilize government subsidies to bolster the venture, targeting sectors such as automotive, power, electronics, and industrial markets.
Describing it as Maharashtra’s pioneering semiconductor facility, Chodankar highlighted Tendulkar’s role as a “strategic investor” in the company.
Tendulkar expressed his enthusiasm, stating, that we live in exciting times today, when India is building industries that positively impact the world tomorrow. He feels appy to be backing technologies and entrepreneurs who are part of this story.
The semiconductor sector is known for its capital-intensive nature, and numerous companies have recently announced investments in similar initiatives.
News Edit K.V.Raman
