Micron Gujarat plant groundbreaking on Saturday: Minister Chandrasekhar
New Delhi: Micron Technology, Inc. will have the groundbreaking of its $2.75 billion assembly, testing and packaging plant (ATMP) in Sanand, Gujarat, on Saturday, Rajeev Chandrasekhar, minister of state for electronics and IT said today.
Speaking to reporters a day before the ceremony, the minister highlighted Micron's foray into India and the rapid establishment of their facility as an indication to prospective investors and entrants of the nation's burgeoning growth in the semiconductor industry. "This is something which will grow slowly, a decadal opportunity, will evolve over the next five years," he said, referring to Micron’s investment acting as a catalyst to India’s semiconductor manufacturing ambitions.
“The growth of suppliers and supply chain will soon start manifesting. This represents a big milestone, living in an era of milestones," he added, referring to the passing of the Women’s Reservation Bill in Parliament.
Last week, Chandrasekhar had told Mint US firm intends to build several semiconductor assembly and packaging units in India, in addition to its proposed fabrication unit, over a period of time. Micron has announced an investment of $800 million to set up a semiconductor ATMP unit in Gujarat’s Sanand, over five years.
The government will pool in $1.95 billion as incentives, from the Centre and state, taking the total investment in the project to about $2.7 billion. The minister said that the government expects 70% of the country’s hardware needs would be fulfilled by local production in three years, from 10% at present, even as it attempts to reduce the dependence on imports.
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