Micron Technology, an American memory chip company, signed a memorandum of understanding with the Indian government on Wednesday local time to build a semiconductor factory in India, which is also the company's first factory in India.

Meguiar last week confirmed that it will invest up to 825 million US dollars to build a new chip assembly and test facility in Gujarat, India. With the support of the Central Government of India and Gujarat, the total investment of the plant will reach 2.75 billion US dollars, 50% of which will come from the Central Government of India and 20% from Gujarat, which also means that Indian government subsidies account for up to 70% of the total expenditure.

It is reported that the semiconductor factory will be built in Sanande area near Ahmedabad, Gujarat, and the new factory will realize the assembly, testing and manufacturing of DRAM and NAND products. We will create up to 5000 new direct employment opportunities and 15000 community employment opportunities in the next five years.

Specifically, the first phase of the project will be constructed within the year, mainly including a clean room with an area of 500000 square feet (about 46000 square meters) for semiconductor sealing and testing. Meguiar Light said that the clean room will be put into operation by the end of 2024. As time goes by, Micron Technology Technology will gradually increase its capacity to meet the global demand trend.

Sanjay Mehrotra, President and CEO of Micron, said, "We are excited about the measures taken by India to develop the local semiconductor ecosystem and thank the Indian government and all officials involved in the investment. Our new assembly and testing location in India will enable Micron to expand our global manufacturing base and better serve our customers in India and around the world

Indian Federal Cabinet Minister Shri Ashwini Vaishnaw said, "Meguiar's investment in assembly and testing manufacturing in India will fundamentally change India's semiconductor landscape and create tens of thousands of high-tech and construction industry jobs. This investment will be a key component of India's thriving semiconductor ecosystem

Meguiar chose Gujarat, India, to build a factory, mainly because of its manufacturing infrastructure, favorable business environment and perfect talent channels in local industrial parks. Meguiar plans to build its first semiconductor factory in India with a total investment of 2.75 billion US dollars