Micron Expands Geographic Reach, Eyeing Billion-Dollar Indian Semiconductor Venture

Micron Technology Inc. MU intends to invest at least $1 billion in setting up a semiconductor packaging factory in India.

Today, Micron committed to investing an additional $600 million in its Chinese plant to help the local economy and generate jobs.

Micron is close to committing at least $1 billion toward building a semiconductor packaging factory in India, a move that would further expand its geographic reach at a time when there are tensions between the US and China, reported Bloomberg, citing people familiar with the matter.

An announcement is expected when Prime Minister Narendra Modi visits the U.S. next week. According to the source, there is a likelihood that the financial commitment will exceed $2 billion.

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The Indian investment would follow a Chinese ban on the use of Micron chips in what Beijing called critical infrastructure, mentioned the report.

Last month, The Japanese government committed $1.51 billion (200 billion yen) in financial incentives to help Micron make next-generation memory chips in the country.

Price Action: MU shares are trading higher by 2.82% at $70.75 premarket on Friday.

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