RRP Electronics Ltd. has announced to set up a semiconductor manufacturing facility in Maharashtra to meet growing demand from the domestic market and to cater to exports.

It said it would invest ₹5,000 crore in the next 5 years to scale up its operations. The company said it had entered into agreements with European consortiums having expertise in Outsourced Semiconductor Assembly and Testing (OSAT) and fabrication (FAB) technology.

The foundation stone for the factory is scheduled to be laid on 23 March, 2024 and the company said it would fast track the commencement of the project.

Going forward the unit, which will commence with OSAT, will be converted into an R&D centre.

This facility will deliver services in the area of automobile application, power electronics and industrial, the company said.