Micron to set up $2.75 billion semiconductor plant in Gujarat Micron Technology statement PM Modi US visit latest news
PM Modi’s US visit: In one of the major outcomes of Prime Minister Narendra Modi’s visit to the United States, the Micron Technology announced on Thursday that it will set up a semiconductor test, assembly plant in Gujarat with a total investment of USD 2.75 billion.
With PM Modi’s visit to the United States underway, Micron Technology said in a statement, “Micron to invest USD 825 million in the semiconductor testing, assembly plant and the rest of the finance will come from the government.
“In semiconductors, Micron Technology with the support of India’s National Semiconductor mission announced an investment of more than $800 million which, along with additional financial support from the Indian authorities, up to a $2.75 semiconductor assembly and test facility billion in India,” United States Senior Administration. officials said.
Meanwhile, in another development, White House officials said on Thursday in the space sector, “…we will be able to announce that India is signing the Artemis Agreements, which promote a common vision of space exploration for the benefit of with all mankind.”
The Micron plant is approved under the government’s “Modified Assembly, Testing, Marking and Packaging (ATMP) Scheme”.
Under the scheme, Micron will receive fiscal support of 50 percent of the total project cost from the central government of India and incentives equal to 20 percent of the total project cost from the state of Gujarat.
“Phase construction of the new assembly and test facility in Gujarat is expected to begin in 2023. Phase 1, which will include 500,000 square feet of planned cleanroom space, will begin operations in late 2024,” a Micron said in a statement.
Micron said the plant will create up to 5,000 new direct jobs and 15,000 community jobs over the next few years.
“Micron’s new facility will enable assembly and test manufacturing for both DRAM and NAND products and will address demand from domestic and international markets,” the statement said.
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