Micron set to break ground for Sanand semiconductor plant on Saturday

Micron Technology is set to break ground for its semiconductor plant in Gujarat’s Sanand on Saturday, September 23, The Economic Times (ET) reported on Wednesday. This comes three months after the chipmaker announced its plans to set up a unit in India. The plant is likely to be operational by late 2024.

The United States-based company is the world’s fifth-largest in semiconductors and has committed to investing $825 million in India. The plant’s cost is likely to be $2.75 billion, and apart from Micron’s share, the rest will be covered as a subsidy by the Centre as well as the state government. It is the first mega project cleared under the Centre’s $10 billion incentive plan to woo global chip makers.