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Last updated: June 29, 2023 at 03:28 AM IST
The MoU was signed in Gandhinagar in the presence of Prime Minister Bhupendra Patel and Union Information Technology Minister Ashwini Vaishnau. (Photo: Gujarat CMO/Twitter)
Micron said last week it would invest up to $825 million in the facility
On Wednesday, the American chip maker Micron Technology signed a memorandum of understanding with the center to build the first semiconductor factory in the country.
The agreement, which was signed in Gandhinagar in the presence of Prime Minister Bhupendra Patel and Union Information Technology Minister Ashwini Vaishnau, marks a significant milestone.
“In the presence of August CM ShriBhupendrapbjp and Union IT Minister ShriAshwiniVaishnaw, a Memorandum of Understanding (MoU) was signed in Gandhinagar between Gujarat Govt and US chip manufacturing giant MicroTech to set up ATMP facility at Sanand with investment from US$2.75 billion i.e. over Rs 22,500 crore,” he tweeted. Gujarat Chief Minister’s Office (CMO).
Micron said last week it would invest up to $825 million in the facility. She added that with the support of the Indian central government and the state of Gujarat, the total investment will reach $2.75 billion.
The facility will be built in Sanand, near the city of Ahmedabad in the state of Gujarat.
This MoU was signed less than a week after Prime Minister Narendra Modi’s historic visit to Washington, which witnessed a slew of agreements with the US, including some in the field of technology.
Harnessing the power of technology for common progress! @tweet And POTUS @Joe Biden Interact with Indian and US CEOs of leading technology companies.
They discussed fostering innovation and exploring opportunities for collaboration between the vibrant technology sectors of the … pic.twitter.com/o1DRU3lNnz
– PMO India (@PMOIndia) June 23, 2023
During his visit, Modi and President Joe Biden took part in a major event at the White House that saw the participation of top Indian and American CEOs of tech companies and start-ups.
In his remarks, the Prime Minister stressed the huge potential of harnessing India-US technology cooperation for socio-economic growth.
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