Micron reportedly close to Indian manufacturing deal
By MYBRANDBOOK
As per reports, memory chip maker Micron Technology is to invest $10 billion in the Indian state of Gujarat and is about to set up manufacturing facilities there. The allocation of a 300,000 square metre parcel of land between Ahmedabad and Sanand is being finalized. The report said, “The company will soon announce setting up a manufacturing facility for data storage devices along with assembly, testing, marking and packaging here”. Though Micron neither confirmed nor denied the Gujarat project.
A Micron spokesperson said, “Micron continues to evaluate opportunities for potential future assembly and test project options needed to meet long-term memory demand. We have not made any decisions regarding the timing or scope of any expansion plans.”
In October 2022 Micron announced a plan to invest $100 billion over a twenty-year period in a megafab complex in Clay, New York.
However, in the short-term Micron has been cutting its cloth to cope with glut of memory stock and a fall in average selling prices for memories. Micron has curtailed its output and is looking to lay off 10 percent of its staff during 2023.
The state of Gujarat has one of the more generous support packages designed to encourage semiconductor investment. This includes a 10-year subsidy for the cost of electricity. Such packages complement an Indian federal plan that has been trying to attract investors for a couple of years.
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