US-based Micron Technology will conduct a formal groundbreaking on September 23 at Sanand in the western Indian state of Gujarat, marking the commencement of construction of a semiconductor fabrication plant in the country, a company statement said on Thursday, September 21.
The start of the construction comes four months after the US-based company and fifth-largest chip maker in the world unveiled its plans for India.
Micron Technology has acquired the 10-acre land, building and factory site of an ailing auto component manufacturer at Sanand and is converting it into a pilot assembly, testing, marking and packaging (ATMP) plant to be operational next year.
The plant will cost an estimated $2.75 billion of which Micron Technology will invest around $825 million and the balance to be funded as a subsidy by the Indian government from its corpus of $10 billion set up to woo global semiconductor fabricators to set up facilities in the country.