Micron to invest $825 million in Guj chip facility

Tribune News Service

Updated At : 12:28 PM Jun 23, 2023 IST

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New Delhi, June 22

The US-based Micron, one of the world’s largest semiconductor companies, today announced plans to build a new assembly and test facility in Gujarat, India.

The project will come up in two phases and will entail an investment of $2.75 billion (Rs 16,600 crore). India will make the majority funding, while Micron will bring in the technology and reduce dependence on foreign sources.

Micron will invest $825 million (Rs 6,600 crore), the US company said, adding “Micron will receive 50% support for the project cost from the Indian government and incentives representing 20% of the project cost from Gujarat”.

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