Micron To Invest In India: American chip maker Micron Technology has announced to set up a new Semiconductor Chip Plant in Gujarat (Gujarat), on which $ 2.75 billion will be invested. This will be Micron’s first investment in India. Micron Technology will invest $825 million to set up this plant.
Micron Technology said that due to the cooperation of the Government of India and the Government of Gujarat, a total investment of $ 2.75 billion ((Rs 22,540 crore) will be made to set up this chip facility, in which 50 percent will be shared by the Government of India, 20 percent. The Gujarat government will also invest 100 per cent. The company told that the construction of this new plant will start only in 2023 and production will start from the plant by the end of 2024. Work on the second phase of this chip plant will start in the second half of this decade. Micron Technology said that 5,000 direct jobs will be available through both the phases, while 15,000 people will continue to get indirect employment for the next several years.
Micron Technology said that this plant has been approved under the government’s ATMP scheme. Micron said the new plant will be capable of assembly and test manufacturing of both DRAM and NAND products, and will also meet demand from local and international markets.
PM with Sanjay Mehrotra, CEO of Micron Technology in the United States Narendra Modi This deal will be made official after the meeting. PM Modi is currently on a US tour. The project to set up this semiconductor plant was approved almost before the cabinet. Let us tell you that Anil Agarwal of Vedanta had also announced to set up a semiconductor plant in Gujarat itself.
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