The leading, computer storage chip maker Micron will set up its semiconductor assembly and test plant in Gujarat entailing a total investment of USD 2.75 billion (around Rs 22,540 crore), the company said on Thursday i.e 22/06/23.
The total cost of the plant is roughly USD 825 million (around Rs 6,760 crore) from Micron and the rest from the government in two phases, according to a company statement. CEO,Sanjay Mehrotra informed that Micron’s new assembly and test location in India will enable the company to expand its global manufacturing base and better serve customers in India and around the world. Micron’s plant has lately been approved under the government’s Modified Assembly, Testing, Marking and Packaging (ATMP) Scheme .Under the scheme, Micron will receive 50 per cent fiscal support for the total project cost from the Indian central government and incentives representing 20 per cent of the total project cost from the state of Gujarat.
Minister of State for Electronics and IT Rajeev Chandrasekhar said that after the announcement of the Semiconductor vision by PM Narendra Modi and the planned investment of Rs 76,000 crore to catalyze and build India’s Semicon Ecosystem, much progress has been made in the last 18 months. He further lauded the efforts through these lines, “This is a Big Big milestone in India’s roadmap and growth as a Semiconductor Nation.”
