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The Gujarat authorities on Wednesday signed a Memorandum of Understanding with laptop storage chip maker Micron for establishing a USD 2.75 billion semiconductor meeting and take a look at facility at Sanand in Ahmedabad district.
The MoU was signed within the presence of Electronics & Information Technology Minister Ashwini Vaishnaw and Chief Minister Bhupendra Patel, a authorities launch stated.
For the final many a long time India relies upon import of semiconductor chips and the demand for them will enhance because the manufacturing sector within the nation grows, it stated.
The plant at Sanand will entail a complete funding of USD 2.75 billion (round Rs 22,540 crore), it added.
Micron’s plant has been accepted beneath the Union authorities’s `Modified Assembly, Testing, Marking and Packaging (ATMP) Scheme’.
Under the scheme, Micron will obtain 50 per cent fiscal assist for the full challenge price from the Indian authorities and incentives representing 20 per cent of the full challenge price from the Gujarat authorities.
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Source: www.indiatvnews.com
