Hyderabad: Micron Technology, Inc., a global leader in semiconductors with a market cap of US $51 Billion (INR 3 lakh 63 thousand Crores) had meetings with the Minister for IT and Industries K. T. Rama Rao over the last few months exploring their interest in investing in the state of Telangana.
Micron has a large presence in Singapore, Taiwan, Japan, China and Malaysia, and was contemplating increasing its presence in India.
Micron’s Sr. Director, Asia Legal, Stephen Drake, and Director, Singapore Legal, Amrinder Sidhu, today met Minister for IT & Industries K. T. Rama Rao, Principal Secretary Jayesh Ranjan and Chief Relations Officer Amarnath Reddy Atmakuri.
The Government of Telangana announced that Micron will be setting up a presence in the city of Hyderabad. They would be leasing about 1.8 lakh sft in an SEZ facility in Madapur.
Micron would be investing upwards of Rs. 300 Crores and will be ramping close to 1,000 engineering and IT professionals over the next few years. This will be Micron’s largest presence in India.
Micron would also be working with the Telangana government’s flagship program TASK – Telangana Academy for Skills and Knowledge for recruiting young engineers and this would be fully facilitated by the Government.
Also, Micron would be connecting to T-Hub and T-Works on the innovation front.
KTR has expressed confidence that Micron’s presence would boost the Electronics and Semiconductors vertical in Hyderabad.