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The MoU was signed in the presence of Electronics & Information Technology Minister Ashwini Vaishnaw and Chief Minister Bhupendra Patel, a government release said. For the last many decades India is dependent upon import of semiconductor chips and the demand for them will increase as the manufacturing sector in the country grows, it said.
On Friday, US memory-chip maker Micron Technology announced it would set up an outsourced semiconductor assembly and testing plant at Sanand in Gujarat entailing an investment of $2.75 billion. Of this, Micron will invest $825 million, while the rest will be a combination of incentives from the central and state governments.
The total cost of the plant comprises USD 825 million (around Rs 6,760 crore) from Micron and the rest from the government in two phases, according to a company statement.
Micron Technology on Thursday announced to set up a new $2.75 billion semiconductor assembly and test facility in Gujarat, a day after Prime Minister Narendra Modi met Sanjay Mehrotra, the Indian-American President and CEO of Micron, in Washington DC during his state visit to the US.
Micron Technology on Thursday announced to set up a new $2.75 billion semiconductor assembly and test facility in Gujarat, a day after Prime Minister Narendra Modi met Sanjay Mehrotra, the Indian-American President and CEO of Micron, in ...