Micron To Invest Rs 300 Crores In City, Offer 1000 Jobs
A global leader in semiconductors, Micron will lease 1.8 lakh sft in Madhapur, invest upwards of Rs. 300 crores, and hire close to 1,000 engineering and IT professionals.
Hyderabad | 17th September 2018
Micron Technology, Inc., a global leader in semiconductors with a market cap of US $51 billion, has had meetings with Telangana IT & Industries Minister K T Rama Rao over the last few months exploring its interest in investing in the state. Micron has a large presence in Singapore, Taiwan, Japan, China and Malaysia, and is contemplating increasing its presence in India, which was the reason for these meetings.
As the latest in the series of meetings, Micron's Sr. Director - Legal (Asia) Stephen Drake and Director - Legal (Singapore) Amrinder Sidhu met the minister, the Principal Secretary to the government Jayesh Ranjan, and the Chief Public Relations Officer Amarnath Reddy Atmakuri today.
After the meeting, the government announced that Micron would be setting up a presence in Hyderabad. They will be leasing about 1.8 lakh sft in an SEZ facility in Madhapur, and investing upwards of Rs. 300 crores and hiring close to 1,000 engineering and IT professionals over the next few years.
This will be Micron's largest presence in India.
Micron will also be working with the Telangana government's flagship program TASK - Telangana Academy for Skills and Knowledge - for recruiting young engineers, and this will be fully facilitated by the government. In addition, Micron will also be connecting to T-Hub and T-Works on the innovation front.
KTR said that Micron's presence will further boost the electronics and semi-conductors vertical in Hyderabad.
filed in: Industry & Business, Investments, Employment, Telangana, K T Rama Rao