Feb 22: Hyderabad based ASIP (Advanced System in Package Technologies) has joined forces with Korean firm APACT Limited, and announced its plans for a state-of-the-art semiconductor assembly and testing facility in Hyderabad. The project, with an investment of Rs. 890 crore, will generate 100 job opportunities initially, marking a significant milestone in the region’s semiconductor manufacturing sector.
“ASIP’s collaboration with APACT Limited signifies a strategic alliance aimed at driving technological advancement in semiconductor manufacturing,” remarked Dr. VK Saraswat, Member NITI Ayog. “This joint venture underscores India’s commitment to fostering innovation and fostering a robust ecosystem for the electronics industry.”
With an initial team of 100 professionals, ASIP and APACT Limited’s venture is set to fortify India’s position as a semiconductor manufacturing hub.
“Our partnership with APACT Limited will not only cater to India’s growing domestic needs but also enhance the country’s standing in the global semiconductor market,” stated Mr. Venkata Simhadri, CEO of ASIP.
ASIP and APACT Jv to Drive Growth of Semiconductor Assembly and Testing Technology in India
“We are excited to bring cutting-edge semiconductor technology to India and contribute to the country’s economic growth,” expressed Mr. Seong-Dong Lee, CEO of APACT Limited. “This joint venture holds immense potential to create a ripple effect of innovation and job creation in the region.”
Highlights of the ASIP , APACT JV for Semiconductor Project
- APACT to offer it R&R to help ASIP start OSAT Project
- Provide Training to ASIP Key Professionals to set up assembly lines
In addition to establishing the semiconductor facility, ASIP has inked an MoU with IIT Hyderabad to collaborate on research and development initiatives. Dr. Vishnu Vardhan Reddy of Telangana Govt. emphasized, “This partnership will not only drive innovation but also nurture a skilled workforce for the semiconductor industry.”
Seizing Market Opportunities
The global Outsourced Semiconductor Assembly and Test Services (OSAT) market presents a significant growth opportunity, with projections soaring to USD 76.23 billion by 2028. ASIP and APACT Limited’s joint venture positions India to capitalize on this burgeoning Semiconductor Assembly and Testing market, attracting investments and fostering indigenous technological capabilities.
Leading the Future of Semiconductor Manufacturing
As ASIP and APACT Limited embark on this transformative journey, they pave the way for India’s emergence as a frontrunner in OSAT/ATMP technology. Their commitment to innovation, collaboration, and talent development sets the stage for a thriving in the semiconductor assembly and testing ecosystem that will drive India’s technological prowess on the global stage.
