Shulou(Shulou.com)11/24 Report--

CTOnews.com, June 22 / PRNewswire-FirstCall-Asianet /-- Micron Technologies today announced plans to build a new assembly and testing plant in the Indian state of Gujarat, which will assemble and test manufacture DRAM and NAND products.

Meguiar said construction of the new assembly and test plant in Gujarat is expected to begin in phases in 2023. The first phase will be put into operation at the end of 2024 and the second phase will begin in the second half of this century. Micron will invest up to US $825 million in the two phases of the project (CTOnews.com Note: currently about 5.923 billion yuan) and will create as many as 5000 new direct jobs and 15000 community jobs in the next few years.

According to reports, Micron Technology will receive financial support of 50% of the total cost of the project provided by the Indian central government and 20% of the total cost of the project provided by Gujarat. The total investment by Micron Technology and the Indian government in these two stages will be as high as US $2.75 billion (currently about 19.745 billion yuan).

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