Micron signs preliminary agreement for India chip facility

U.S. memory chip firm Micron Technology on Wednesday signed a memorandum of understanding with the Indian government to build a semiconductor plant, its first factory in the country.

Micron said last week it will invest up to $825 million in the facility. With support from the Indian central government and the state of Gujarat, the total investment will be $2.75 billion, it added.

The facility will be constructed in Sanand, near the city of Ahmedabad in Gujarat.