Micron Technology, the American semiconductor giant, has embarked on its first Indian venture with the help of Tata Projects.
The company has also initiated the hiring process for this groundbreaking project.
Micron’s $2.75 Billion Investment
Located in Sanand, Gujarat, Micron Limited is investing $2.75 billion in its proposed factory. The formal groundbreaking took place during a Bhoomi Pujan ceremony over the weekend.
Tata Projects Collaborates with Micron
The 93-acre Micron factory in Sanand GIDC-II industrial estate will focus on assembly, testing, marking,
and packaging, rather than semiconductor manufacturing. During the Bhoomi Pujan ceremony, Micron inked a crucial agreement with Tata Projects.
Government Support for Micron
The Indian government is committed to fostering self-reliance in semiconductor production, offering substantial support to companies establishing operations in India.
In Micron’s case, the central government is set to cover 50% of the plant’s total cost, with the state government providing an additional 20% through various relief measures. As a result, Micron will be responsible for only 30% of the total cost.
Operations Commencing in 2025
Micron’s plant includes a 500,000-square-foot clean room, with construction expected to conclude by the end of the next year.
Micron aims to commence operations by the end of 2024, translating to a potential launch in 2025. The company has already initiated recruitment for the plant.
Boosting Employment Opportunities
The agreement for this project was solidified during Prime Minister Narendra Modi’s recent visit to the United States.
Micron’s total investment stands at $2.75 billion, with $825 million allocated to the factory’s construction in two phases.
It is anticipated that approximately 5,000 individuals will secure direct employment opportunities, with another 15,000 expected to gain indirect employment prospects as a result of this plant.
