New Delhi: Micron, a manufacturer of computer storage chips, announced on Thursday that it would invest USD 2.75 billion (about Rs 22,540 crore) to build a semiconductor assembly and test plant in Gujarat. According to a corporate statement, Micron is contributing USD 825 million (about Rs 6,760 crore) towards the construction of the factory, with the government covering the remaining amount in two installments.
"We are excited about the steps India is taking to develop the local semiconductor ecosystem," said Micron President and CEO Sanjay Mehrotra.
According to him, Micron will be able to better serve customers in India and around the world with the help of its new assembly and test facilities in India.—Inputs from Agencies