Micron set to break ground for chip unit
Micron Technology is scheduled to break ground for its semiconductor testing and assembly plant in Gujarat’s Sanand on Saturday, barely three months after the US chipmaker announced its intent to set up the unit.
“The whole world is watching our semiconductor programme,” Union minister for electronics and information technology Ashwini Vaishnaw told ET.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Digital Marketing and AnalyticsVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitNorthwestern UniversityKellogg Post Graduate Certificate in Product ManagementVisitNorthwestern UniversityKellogg Post Graduate Certificate in Digital MarketingVisitThe facility is coming up at a total proposed investment of $2.75 billion.
This investment is the largest so far under the India Semiconductor Mission (ISM). While Micron has committed to invest $825 million, the rest will be covered by subsidies. The plant is likely to be operational by late 2024.
Vaishnaw, Gujarat chief minister Bhupendra Patel and key executives from Micron are likely to be present at the event on Saturday, officials in the know of the preparations told ET.
Micron is the first proposal approved by the government under the mission. The deal was signed during Prime Minister Narendra Modi’s US visit in July.
“It’s a very significant proposal, and within a very short time frame of just a few months — land allocation, all the project agreements were signed and now the actual construction work will begin,” said Vaishnaw. “The world will take notice of the speed at which the project has been executed and it will bring in a significant change in the way people will evaluate
