Micron confirms up to $825 million investment in India chip facility
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/06/d1ac5927f1647d56174974c50a7620d8.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
U.S. memory chip firm Micron Technology, Inc said on Thursday it would invest up to $825 million in a new chip assembly and test facility in Gujarat, India, its first factory in the country.
Micron said that with support from the Indian central government and from the state of Gujarat, the total investment in the facility will be $2.75 billion. Of that total, 50% will come from the Indian central government and 20% from the state of Gujarat.
Reuters reported earlier this week that India's Cabinet approved the project ahead of Prime Minister Narendra Modi's state visit to the U.S., which kicked off on Wednesday.
Micron said construction of the new facility in Gujarat is expected to begin in 2023 and the first phase of the project will be operational in late 2024. A second phase of the project is expected to start toward the second half of the decade, it said. The two phases together will create up to 5,000 new direct Micron jobs.
![](https://portfolio.investmentguruindia.com/uploads/news/insurance 123.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Axis Securities Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Wipro.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/2b1715f7e03b51b0ac9c014eb224fc1f.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/gdp22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Dollar retures 2.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/health22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Arvind Kapil, MD and CEO, Poonawalla Fincorp.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/stock8.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/f6904419b2f1cb985436195010d0ee3d.jpg)
Trend reversal in FPI investment from buying in last 3 months to selling in Sep
![P-notes investment in Indian markets rise to Rs 1.23 lakh crore in July-end: SEBI](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/a9e04e88836143f186cdb7127a695225.jpg)
![Centre may explore green masala bonds, InVITs to meet long-term renewable energy capacity investment](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/8792c907c5373b808cc34bea32e1a5ac.jpg)
![DPIIT reduces the compliance burden by removing forty thousand compliance burdens, says Ms. Manmeet Nanda, Joint Secretary, DPIIT during the Unnati India Opportunity Series - Investment Roadshow at the PHD Chamber](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/08/dfa1c305b9d90a755d11ae335bee53e1.jpg)