The Gujarat authorities on Wednesday signed a Memorandum of Understanding with pc storage chip maker Micron for establishing a USD 2.75 billion semiconductor meeting and check facility at Sanand in Ahmedabad district.
The MoU was signed in the presence of Electronics & Information Technology Minister Ashwini Vaishnaw and Chief Minister Bhupendra Patel, a authorities launch mentioned.
For the final many a long time India depends upon import of semiconductor chips and the demand for them will improve because the manufacturing sector in the nation grows, it mentioned.
The plant at Sanand will entail a complete funding of USD 2.75 billion (round Rs 22,540 crore), it added.
Micron’s plant has been permitted below the Union authorities’s `Modified Assembly, Testing, Marking and Packaging (ATMP) Scheme’.
Under the scheme, Micron will obtain 50 per cent fiscal assist for the overall venture price from the Indian authorities and incentives representing 20 per cent of the overall venture price from the Gujarat authorities.
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