US chipmaker Micron signs MoU for first Indian facility in Gujarat – News18

US chipmaker Micron Technology signed a memorandum of understanding (MoU) with the center on Wednesday to build its first semiconductor manufacturing facility in the country.

The agreement, signed in Gandhinagar in the presence of Chief Minister Bhupendra Patel and Union IT Minister Ashwini Vaishnaw, marks an important milestone.

“In the August presence of CM Shri @Bhupendrapbjp and Union IT Minister Shri @AshwiniVaishnaw, a MoU has been signed in Gandhinagar between Gujarat Govt and US based chip manufacturing giant @MicronTech to set up an ATMP facility in Sanand with an investment of US$2.75 billion or more than ₹22,500 crore,” the Gujarat Chief Minister’s Office (CMO) tweeted.

Micron said last week it will invest up to $825 million in the facility. With support from the Indian central government and the state of Gujarat, the total investment will reach $2.75 billion, it added.

The facility will be built in Sanand, near Ahmedabad city in Gujarat.

This MoU was signed less than a week after Prime Minister Narendra Modi’s historic visit to Washington, which witnessed a slew of agreements with the US, including some on technology.

During his visit, Modi and President Joe Biden took part in a major event at the White House attended by leading Indian and American CEOs of technology companies and start-ups.

In his remarks, the Prime Minister underlined the huge potential of leveraging India-US tech cooperation for socio-economic growth.