Global semiconductors maker Micron Technology, with a market cap of $51 billion (Rs 3,63,000 crore) will be setting up a presence in Hyderabad. The company will be investing over Rs 300 crore and will lease about 1.8 lakh square feet in an SEZ facility in Madhapur area of Hyderabad.
Micron aims to create employment for more than 1,000 engineering and IT professionals over the next few years. This will be Micronâ€™s largest presence in India. Micron, which was founded in 1978 in Idaho in United States of America, is an industry leader in innovative memory and storage solutions.
The company had meetings with the Minister for IT and Industries K. T. Rama Rao over the last few months exploring its interest in investing in the state of Telangana. Micron has a large presence in Singapore, Taiwan, Japan, China and Malaysia.
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.
According to a statement from the company, Micron is backed by 40 years of technology leadership and it 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. Micronâ€™s common stock is traded on the NASDAQ under the MU symbol.
Micron would also be working with the Telangana governmentâ€™s flagship program TASK â€“ Telangana Academy for Skills and Knowledge -- for recruiting young engineers and this would be fully facilitated by the Government.
In addition, Micron would also be working with T-Hub and T-Works on the innovation front. The Minister for IT & Industries, Government of Telangana said in a statement that Micronâ€™s presence would boost the Electronics and Semiconductors vertical in Hyderabad.