India earmarks $360M in support for chip venture

India looks to support massive AI chip venture

India’s government has approved $360 million in subsides for Japan’s Mitsui & Co and Aoi Electronics to set up a chip assembly facility with local partner Kaynes Semicon. The three companies recently sealed a strategic business partnership deal. In a statement, Mitsui explained it acquired the exclusive right to handle raw materials procured by Kaynes from Japanese-affiliated suppliers and will work with them to support the new business. Kaynes …

Mitsui partners with Kaynes for new OSAT facility in India

Mitsui & Co. has entered into a strategic partnership with Kaynes Semicon and AOI Electronics Co. to support the establishment of a semiconductor back-end manufacturing operation in India. The agreement gives Mitsui the role of facilitating Kaynes’ launch into the outsourced semiconductor assembly and test (OSAT) sector by drawing on Japan-based AOI Electronics’ technical experience. Mitsui has secured exclusive rights regarding procurement of r…

India earmarks $360M in support for chip venture

Japan’s Mitsui & Co and Aoi Electronics received approval from India’s government for $360 million in subsidies to set up a chip assembly facility with local partner Kaynes Semicon. The three companies recently sealed a strategic business partnership deal. In a statement, Mitsui explained it acquired the exclusive right to handle raw materials procured by Kaynes from Japanese-affiliated suppliers and will work with them to support the new busine…