Micron Technology, one of the largest semiconductor companies in the world, Thursday announced it would invest up to 825 million U.S. dollars in a new chip assembly and test facility in India’s western state of Gujarat.
It will be its first factory in India.
Micron’s investment will create up to 5,000 new direct Micron jobs and 15,000 community jobs over the next several years, the U.S.-based company said in a statement.
The U.S. chipmaker added it will receive 50 percent fiscal support for the total project cost from the Indian federal government and incentives representing 20 percent of the total project cost from the state of Gujarat.
“The combined investment by Micron and the two government entities over the course of both phases will be up to 2.75 billion dollars,” Micron said.
Micron President Sanjay Mehrotra said the new assembly and test plant in India will enable Micron to expand their global manufacturing base and better serve customers in India and around the world.
According to Micron, the phased construction of the new assembly and test facility in Gujarat is expected to begin in 2023.