US-based Micron begins construction of $2.75 Bn semiconductor plant in Gujarat
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The US-based Micron Technology, a computer memory manufacturer, has broken ground in Gujarat's Sanand to build a $2.75 billion semiconductor testing and assembly plant. The plant will be spread across an area of 500,000 square feet of land. The information about the construction was shared by Union Minister Rajeev Chandrasekhar. The construction work began just three months after the company announced its intention to open a plant in India. This has also become the largest investment under the India Semiconductor Mission (ISM) as Micron is contributing $825 million. The rest of the amount is being covered through subsidies, as per reports.With the construction starting, the plant is expected to become operational by late 2024. Interestingly, Micron is the first company that was a...