A new MOU between Micron and the Gujarat government outlines plans to build a $2.75 billion (or over Rs. 22,560 crore) semiconductor manufacturing and testing facility there. According to the publication, IT Minister Ashwini Vaishnaw stated that Micron Technology would begin building a $2.75 billion chip assembly and testing facility in Gujarat in August.
In order to construct its first factory in the nation, a semiconductor plant, Micron and the government inked a memorandum of understanding last month. The facility will receive up to $825 million (approximately Rs. 6,760 crore), according to a statement made by Micron last week.
The overall investment will be $2.75 billion with help from Gujarat and the Indian federal government, it was added. The building will be built in Sanand, a Gujarati town close to Ahmedabad.
The Vedanta Foxconn and Micron projects, according to the semiconductor industry, are just two examples of the growing interest in Gujarati semiconductor production. Gujarat is becoming a popular location for the fabrication of semiconductors for a number of reasons.
These initiatives are anticipated to generate investment of billions of dollars and thousands of employment. They demonstrate Gujarat’s potential to take the lead in the global semiconductor market.
According to Micron, work on the new plant in Gujarat is scheduled to start in 2023, with the first phase of the project likely to be completed by the end of 2024. The second phase of the project is supposed to start somewhere in the second half of this decade, according to the article. The two phases combined will result in the creation of up to 5,000 new direct Micron employment.
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