Micron to set up $2.75 billion semiconductor plant in Gujarat
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We are excited about the steps India is taking to create a more local semiconductor ecosystem, said Sanjay Mehrotra, President and CEO of the company. The setting up of the Gujarat plant will help in expanding its global presence.
Computer chip maker Micron will set up its semiconductor assembly and test plant in Gujarat with a total investment of $2.75 billion (about Rs 22,540 crore). Micron said in a statement on Thursday that it would invest $825 million on its part on this plant to be developed in two phases. The remaining amount will be invested by the Central and State Governments. The US company said that this semiconductor plant has been approved under the Augmented Assembly, Testing, Marking and Packaging (ATMP) scheme of the Government of India. Under this scheme, the central government will provide financial support of 50 percent of the total cost of the project, while 20 percent will be given by the Gujarat government.
Micron said, “The phased construction of this assembly and test plant in Gujarat is expected to start in the year 2023 itself. Five lakh square feet area will be developed in the first phase and it will start operating by the end of the year 2024. The company said that the construction work of the second phase of this plant is expected to start in the second half of this decade. According to the company, Gujarat has been selected for this plant based on its manufacturing infrastructure, favorable business environment and talent pool. We are excited about the steps India is taking to create a more local semiconductor ecosystem, said Sanjay Mehrotra, President and CEO of the company. The setting up of the Gujarat plant will help in expanding its global presence.
The semiconductor chip maker said the plant, to be set up with a total investment of $2.75 billion, would provide direct employment to about 5,000 people while 15,000 people would continue to get indirect employment for several years. Micron said, “The new facility will be capable of assembly and test manufacturing of both DRAM and NAND products, and will also be able to meet the demand coming from local and international markets.” Information Technology and Telecom Minister Ashwini Vaishnav said that Micron’s The setting up of this plant will bring about a paradigm shift in the semiconductor landscape of India and provide employment to thousands of people. He said, this investment will prove to be an important milestone in the emergence of semiconductor ecosystem in the country. Welcoming the investment plan, Minister of State for Electronics and Information Technology Rajeev Chandrasekhar said, “This is a major milestone in India’s development roadmap as a semiconductor nation.”
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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