Sachin Tendulkar backed RRP electronics, announces Rs 5,000 crore investment in Maharashtra semiconductor facility
Tuesday 26 March 2024
RRP Electronics, a company supported by former cricketer Sachin Tendulkar, revealed its plan on Tuesday 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 came alongside the unveiling of a 25,000 square feet facility in Navi Mumbai on March 23. The event was attended by 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, “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.” It plans 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, “We live in exciting times today, when India is building industries that positively impact the world tomorrow. I’m happy 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.
