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InGaAsP/InP planar buried heterostructure (BH) lasers with semi-insulating current blocking layers have been realized using LPE and MOCVD hybrid growth. The planar structure has been obtained by developing the selective embedding growth in MOCVD. Low threshold current of 17 mA and high efficiency of 42 percent have been attained with the BH lasers. Small-signal modulation bandwidth of 10 GHz has also been achieved.