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Gujarat

Gujarat government, US firm Micron sign MoU for semiconductor plant in Sanand

by TLAteam June 29, 2023June 29, 2023
written by TLAteam June 29, 2023June 29, 2023
Gujarat government, US firm Micron sign MoU for semiconductor plant in Sanand

The Gujarat government on signed a Memorandum of Understanding with computer storage chip maker Micron for setting up a $2.75 billion semiconductor assembly and test facility at Sanand in Ahmedabad district.

Business News

The MoU was signed in the presence of Electronics & Information Technology Minister Ashwini Vaishnaw and Chief Minister Bhupendra Patel.

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.

The plant at Sanand will entail a total investment of $2.75 billion (around Rs 22,540 crore).

Micron’s plant has been approved under the Union government’s `Modified Assembly, Testing, Marking and Packaging (ATMP) Scheme’.

Under the scheme, Micron will receive 50 per cent fiscal support for the total project cost from the Indian government and incentives representing 20 per cent of the total project cost from the Gujarat government.

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