Micron To Invest In India: Chip-making American company Micron Technology has announced to set up a new Semiconductor Chip Plant in Gujarat (Gujarat) in 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) would be invested in which 50 per cent Government of India, 20 per cent Government of Gujarat will also invest.
The company said that this new plant’s construction 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 begin in the second half of this decade. Micron Technology said 5,000 direct jobs would be available through both phases, while 15,000 people will continue to get indirect employment for the next several years.
Micron Technology said this plant had been approved under the government’s ATMP scheme. Micron said the new plant would be capable of assembly and test manufacturing of DRAM and NAND products and meet demand from local and international markets.
The deal will be made official after Prime Minister Narendra Modi meets with Micron Technology CEO Sanjay Mehrotra in the United States. 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.
