Micron to invest Rs 300 cr in Hyderabad ; Signs deal with KTR, 1000 jobs to locals

Hyderabad, Sept.17 (Maxim News): 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, Mr. Stephen Drake, and Director, Singapore Legal, Amrinder Sidhu, met today (17th September, 2018) with the Minister for IT & Industries, Government of Telangana, K. T. Rama Rao, the Principal Secretary to the Government, Jayesh Ranjan IAS, and the 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 INR 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 is an industry leader in innovative memory and storage solutions. Through its global brands — Micron®, Crucial® and Ballistix® — its broad portfolio of high-performance memory and storage technologies, including DRAM, NAND, NOR Flash and 3D XPoint™ memory, is transforming how the world uses information to enrich life. Backed by 40 years of technology leadership, Micron’s memory and storage solutions enable disruptive trends, including artificial intelligence, machine learning, and autonomous vehicles, in key market segments like cloud, data center, networking and mobile.

Micron’s common stock is traded on the NASDAQ under the MU symbol. More information about Micron is available at www.micron.com. 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 Thub and TWorks on the innovation front. The Minister for IT & Industries, Government of Telangana has expressed that Micron’s presence would boost the Electronics and Semiconductors vertical in Hyderabad. (Maxim News)