RRP Electronics, a company backed by Sachin Tendulkar, announced on Tuesday an investment of Rs 5,000 crore in a semiconductor facility in Maharashtra.
The investment will be done over the next five years. However, Tendulkar’s contributions to the total investment or the specifics of other stockholders have not yet been revealed. The statement said that on March 23, a 25,000-square-foot facility in the satellite city of Navi Mumbai was unveiled in the presence of Tendulkar, retired nuclear physicist Anil Kakodkar, and the company’s founder, chairman, promoter, and chief executive Rajendra Chodankar.
It is an outsourced semiconductor assembly and testing (OSAT) facility, and there are plans to build a thorough research and development centre as well as an enlarged setup that includes a fab foundry and multi-line OSAT.
“Embedding a journey of innovation, RRP Electronics has committed an initial investment of Rs 5,000 crore over the next five years with the same determination and commitment for the second phase,” stated the statement. It also stated that the enterprise, which would cater to industries including the automotive, electricity, electronics and industrial markets, will also be augmented by government subsidies.
Rajendra Chodankar called it as the state’s first semiconductor plant and mentioned Sachin Tendulkar as a “strategic investor” in the business. He further said, “We are living in exciting times right now, as India is developing sectors that will have a positive influence on the globe in the future.”
Tendulkar said that he is very happy to be part of this and helping technologies and entrepreneurs. The semiconductors sector is capital-intensive according to him and in the recent past, several companies have announced investments in such initiatives.
Speaking on the occasion, Dr Anil Kakodkar said, “The opening of Maharashtra’s groundbreaking semiconductor facility represents a quantum leap in India’s technological prowess. I am honoured to be part of this transformative journey, propelling our nation towards unparalleled innovation and global leadership in semiconductor technology.”
Apart from this, Sachin Tendulkar also owns SRT Sports Management Private Ltd. (SRTSM). By assisting kids in reaching their full potential via programmes and initiatives in the fields of sports, education, and health, SRTSM helps young Indians achieve their dreams It was founded by Sachin Tendulkar and Dr Anjali Tendulkar.
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