PM Modi US go to: In one of many breakthrough outcomes of the Prime Minister Narendra Modi’s go to to United States, the Micron Technology on Thursday introduced that it will set up a semiconductor check, meeting plant in Gujarat with a complete funding of USD 2.75 billion.
As PM Modi’s US go to is underway, Micron Technology in an announcement stated, “Micron to make investments USD 825 million in the semiconductor check, meeting plant whereas the remainder of finance will come from the federal government.
“With respect to semiconductors, Micron Technology with support from Indian National Semiconductor mission announced an investment of more than $800 million that together with additional financial support from the Indian authorities up to a $2.75 billion semiconductor assembly and test facility in India,” Senior US Administration officers stated.
Meanwhile, in one other growth, White House officers on Thursday stated that in the area sector, “…we will be able to announce that India is signing the Artemis Accords, which advance a common vision for space exploration for the benefit of all humankind.”
Micron’s plant has been accredited beneath the federal government’s “Modified Assembly, Testing, Marking and Packaging (ATMP) Scheme”.
Under the scheme, Micron will obtain 50 per cent fiscal help for the full venture value from the Indian central authorities and incentives representing 20 per cent of the full venture value from the state of Gujarat.
“Phased 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 start to become operational in late 2024,” Micron stated in an announcement.
Micron stated that the plant will create up to 5,000 new direct jobs and 15,000 group jobs over the subsequent a number of years.
“Micron’s new facility will enable assembly and test manufacturing for both DRAM and NAND products and address demand from domestic and international markets,” the assertion stated.
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