Micron Technology Operations India, an India-based producer of computer memory and computer data storage including dynamic random-access memory, flash memory and USB flash drives, and a subsidiary of US-based Micron Technology, has announced plans to invest $2.7bn (Rs221.38bn) to open a new semiconductor plant in Sanand, a city in the Indian state of Gujarat. The new plant is expected to create 5,000 jobs.

The facility will enable assembly and test manufacturing for both DRAM and NAND products and cater to demand from both Indian and international markets. Phase one of the operation will cover 46,500m² of cleanroom space and will become operational at the end of 2024. Phase two will cover similar space and operations to phase one, and is slated to open “towards the second half of the decade”.

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In a press release, Micron president and CEO Sanjay Mehrotra said: “We are excited about the steps India is taking to develop the local semiconductor ecosystem. I am grateful to the Indian Government and all of the officials involved that made this investment possible. Our new assembly and test location in India will enable Micron to expand our global manufacturing base and better serve our customers in India and around the world.”

Micron stated that it selected the state of Gujarat due to its manufacturing infrastructure, its appealing business environment and the considerable availability of talent based around the Sanand Industrial Park. Sanand is located close to the major city of Ahmedabad, and has a rich history of attracting major investments, both foreign and domestic, from the likes of Tata Motors, Ford, Hitachi, GE and Procter & Gamble.