Type to search

Micron to Pump $825m Into First India Chipmaking Plant

The American memory chip firm’s investment comes on top of backing from the state of Gujarat and India’s central government

The company logo is seen on the Micron Technology Inc. offices in Shanghai, China May 25, 2023. REUTERS/Aly Song/File Photo
The company logo is seen on the Micron Technology Inc. offices in Shanghai, China, on May 25, 2023. Photo: Reuters


US memory chip outfit Micron Technology is to build a new $2.75 billion chip assembly and test facility in Gujarat, India, its first factory in the country.

Micron is putting $825 million of its own money into the development, which will see the Indian central government and state of Gujarat coming up with remaining cash, with 50% of the total from New Delhi and the final 20% from the local state.


Also on AF: Beijing Bakes in Record 41C Heatwave, Halting Outdoor Work


It was reported earlier this week that India’s Cabinet approved the project ahead of Prime Minister Narendra Modi’s state visit to the US, 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.


  • Reuters with additional editing by Sean O’Meara


Read more:

Micron to Pour $602m in China to Show ‘Unwavering Commitment’

Biden Urged to Hit Back at China Over Micron Ban, Rally Allies

Micron to Spend $3.7bn to Bring EUV Chipmaking Tech to Japan

China to Check US Chip-Maker Micron Products in Security Review



Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.


AF China Bond